Lending

Microlending bank Grameen America has applied for a federal credit union charter for a potential debut in North Carolina.

The Small Business Administration said it is ready to get "much-needed capital" into the hands of small business owners.

Mountain America Credit Union, the SBA's top credit union lender in the country, said it helped create 700 jobs in Utah last year.

The Small Business Administration will host a Web chat to help decipher what the newly-signed American Recovery and Reinvestment Act really means for small businesses.

Credit unions participating in the Credit Union Better Choice program have made almost 15, 000 loans to consumers seeking an alternative to higher cost payday loans, according to the Pennsylvania Credit Union Association.

Former U.S. Mortgage Corp. President/CEO Michael McGrath isn't the only U.S. Mortgage employee implicated in the fradulent scheme of selling $14 million worth of mortgage loans to Fannie Mae.