Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Presidents SBA fee waiver idea could help CUs CUNA
WASHINGTON (12/9/09)—President Barack Obama’s Tuesday announcement that he supports waiving or eliminating fees and increasing guarantees associated U.S. Small Business Administration (SBA) lending programs could ease restrictions some credit unions run into when interested in participating in SBA lending programs. The Credit Union National Association (CUNA) has consistently advocated with the SBA and Congress that fees for the agency’s 7 (a) and 504 guaranteed lending programs should be lower and guarantees increased. Although eligible to participate in these programs, some credit unions have found the fees, as well as the complexity of the application process, to be prohibitive to their involvement. CUNA has testified before the U.S. Congress repeatedly that changes to the SBA's 7 (a) guaranteed lending program that would enable more credit unions to participate and could serve as an essential tool for helping credit unions achieve their mission of serving all the credit needs of members. CUNA maintains that the SBA loans could particularly help with serving low- to middle-income individuals and underserved communities.
Other Resources

RSS





print
News Now LiveWire
About 1 in 5 #CUs offer credit-building loans,@SchenkMike @CUNA vice president of economics and statistics, told @CreditCardsCom
4 hours ago
RT @CUNA: DDoS attacks shorter, intense, more expensive: @VERISIGN HT @newsnowlivewire http://t.co/QiQKIEjK5v
5 hours ago
RT @CUNA: .@CUNACouncils launches new website. Offering site tours to current members. Check it out! http://t.co/YFJA1tKIxn
5 hours ago
.@Discover to support #ApplePay by fall http://t.co/3wDjkOVU7P HT @Forbes
6 hours ago
.@HUDgov requires investors to delay foreclosure for a year and offers a non-profit only pool sale http://t.co/WYzQrTL3QA
9 hours ago