Newsroom

October 16, 2014

Berger, Contreras-Sweet talk CU biz lending

Efforts underway to get more credit unions engaged with Small Business Administration micro-lending were discussed Thursday among SBA Administrator Maria Contreras-Sweet, NAFCU President and CEO Dan Berger and Regulatory Affairs Counsel PJ Hoffman.

"NAFCU sees SBA as an important partner for credit unions in delivering needed capital to their member small businesses," Berger said. "We appreciate Administrator Contreras-Sweet's leadership in seeking ways to maximize the benefits of SBA's loan programs for credit unions and their members."

Thursday's meeting, held at SBA headquarters, focused on a range of issues, including the work between NAFCU and SBA to increase the number of credit unions providing micro-loans through SBA. Each loan dollar from the credit union that is guaranteed by SBA is excluded from the institution's member business loan cap, allowing the credit union to maximize its MBL authority.