News

With proposed new member business lending rules out for comment, credit unions are gearing up to start offering the product to members. See pages 18-20 and find out what some of those who've already taken the initiative have learned.

WASHINGTON - If credit unions have been sensing that competition for the small business market has increased, their suspicions aren't wrong. A study released by the National Federation of Independent Business (NFIB), "Credit, Banks and Small Business - The New Century" found that 42% of surveyed small-business owners believe competition...

WASHINGTON - With the 30-day clock ticking on the comment period for NCUA's proposal to ease its member business lending regulation, CUNA wants to make sure credit unions can easily voice their opinions. The association has set up its "Operation Comment" system to facilitate this. Its Web site now features...

NEW YORK - With nearly 15,000 members who work or are affiliated with the Broadway theatre and entertainment community, Actors FCU is accustomed to processing loans for purposes a bit off the beaten path from what most credit unions are used to handling. So when one its members who worked...

WASHINGTON - Newtek Small Business Finance, the small business lender of Newtek Business Services Inc., is one of only 14 companies in the U.S. that is authorized by the SBA as a Small Business Lending Company. An SBLC is a non-depository institution licensed and regulated by the SBA to make...

WASHINGTON - The number of small businesses that received loans backed by the SBA through the first two quarters of FY 2003 was up by more than 35%, compared to the same period the previous year. According to the SBA, the most significant increases came from loans to minorities, women,...