CUNA noted in USA Today article on Obama announcement
WASHINGTON (10/23/09)--The Credit Union National Association (CUNA) was noted in a Thursday USA Today article about the Obama administration's plan to boost lending for small businesses.
The article focused on helping the Obama administration's announcement of initiatives to help small businesses receive more access to credit. For instance, President Barack Obama plans to ask Congress to expand the maximum loan size of U.S. Small Business Administration (SBA) loans. Loans for small business borrowers would increase to $5 million from $2 million, and to $5.5 million for manufacturers. SBA's Microloan would increase to $50,000 from $35,000.
"The administration can and should go further in allowing more credit union access in making business credit available," CUNA told the newspaper.
Credit unions are capped at providing no more than 12.25% of their assets in small business loans.
To read the full article, use the link.
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