Removing Barriers Blog

CUNA Writes to the SBA on Express Loan and Affiliation Standards
Posted December 18, 2018 by CUNA Advocacy

CUNA filed a letter today in response to the Small Business Administration’s proposal to amend the regulations pertaining to Express Loans and Affiliation Standards. While CUNA’s members are committed to supporting guidelines that help to protect the integrity of the SBA’s loan programs and provide both lenders and borrowers with bright lines for compliance, CUNA is concerned that some of the recently proposed changes are unduly burdensome and will have the unintended consequence of constraining credit unions’ ability to responsibly provide businesses with the capital and credit that they need.  Accordingly, the comment letter urges the SBA to reconsider three of its proposed changes:

(1)          the suggested reimplementation of the personal resources test;

(2)          the proposed cap on lender fees; and

(3)          the application of an “identity-of-interest” standard. 

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