Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Great Basin FCU Approved As SBA Lender
RENO, Nev. (5/28/13)--The Small Business Administration granted approval to Great Basin FCU, Reno, Nev., to become one the agency's lenders.

The SBA approval allows the $125 million asset credit union to aid in the start-up or expansion of small businesses. Great Basin FCU is the first new SBA lender in Northern Nevada in more than nine years.   

"Our community needs this now more than ever," said Jennifer Denoo, Great Basin FCU chief operations officer. "We believe we can fill a gap in our market to assist small businesses needing loans in the $50,000 to $500,000 range.

"We look forward to being more than just a lender," explained Denoo. "We are here to see the process through from beginning to end. We have always prided ourselves in helping educate our members and support them in reaching their goals. So while we may not be able to give them a loan the day they come in, we will always make the time to listen to their dream and connect them with the resources they need to achieve it."

The Small Business Lending Enhancement Act introduced by Sen. Mark Udall (D-Colo.) would increase credit unions' member business lending cap to 27.5% of assets, from the current 12.25% (News Now May 17). Doing so would generate $13 billion in new loans and create 140,000 jobs, the Credit Union National Association said.
RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
1 Day ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
1 Day ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
1 Day ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
1 Day ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
1 Day ago