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Small biz survey shows need for MBL increase

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WASHINGTON (1/27/12)—A survey, released yesterday and executed by the Small Business Majority, shows 90% of small business owner respondents want credit unions and community banks to be permitted to lend more to small businesses.
 
By more than a 2:1 ratio, respondents supported increasing credit unions' member business lending (MBL) cap to 27.5% of a credit union's assets, up from the current limit of 12.25%--a changed also advocated by the Credit Union National Association and proposed in bills pending in both the U.S. House and Senate.
 
During a 2011 hearing on MBL legislation in the House, banking industry witnesses quibbled about whether small businesses are experiencing a credit crunch, with bankers claiming no such crunch exists.
 
However, an overwhelming 90% of small business owners nationwide agreed in the survey that the availability of credit for small businesses is a problem, and 61% agreed it's harder to get a loan now than it was four years ago.
 
CUNA has testified to the U.S. Congress that an increase in the credit union member business lending cap to 27.5% of assets would infuse $13 billion in new credit for small businesses and add 140,000 new jobs within the first year of enactment, at no cost to the U.S. taxpayer.
 
The Small Business Majority, which describes itself online as an advocacy group founded and run by small business owners to focus on solving the biggest problems facing small businesses today, said that respondents to the survey were politically diverse: 50% identified as Republican, 32% as Democrat and 15% as independent.
 
The poll reflects an Internet survey of 500 small business owners across the country,
commissioned by the American Sustainable Business Council, Main Street Alliance and Small Business Majority and conducted by Lake Research, according to the research report.
 
To read more, use the resource link below.
 
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Resource Links
 
Survey Report
Yes, We Make Small-Business Loans drive-up envelope
Business Loans Help Realize Your Dreams statement stuffer
 

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