More credit unions offering SBA loans
Northwestern Financial Review, Jul 15-Jul 31, 2003
The number of credit unions nationwide offering Small Business Administration-backed loans has increased to more than 100, with 22 joining so far this year. The SBA reinterpreted its lender participation regulations in February to allow all credit unions with sufficient lending capabilities to join its loan delivery system for small businesses.
According to industry numbers, of 10,000 credit unions about 1,500 already make business loans to their members, which makes them potential applicants for SBA participation.
Copyright NFR Communications Inc Jul 15-Jul 31, 2003
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