Following MOUs, NAFCU, NCUA to host webinars with EXIM
After signing Memorandums of Understanding (MOUs) with the Export-Import Bank (EXIM) in recent weeks, NAFCU and the NCUA are set to host webinars to educate credit unions on the agency's lending programs available to small business members.
On Aug. 5, NAFCU will offer a complimentary webinar exploring capital loans guaranteed through EXIM to support small business exporters. The EXIM guaranteed loans help protect credit unions against borrower nonpayment, and are also exempt from the member business lending (MBL) cap.
During the webinar, featuring EXIM Director of Working Capital Loans Mario Ramirez and Business Development Specialist Jeff Clare, attendees will:
- learn about EXIM's role;
- review how a working capital loan guarantee from EXIM can provide additional support to member businesses while reducing risk; and
- discuss the benefits of being a Delegated Authority Lender and how to become one.
On Aug. 19, the NCUA will offer a similar webinar to help credit unions discover new lending opportunities for their small business exporters. Registration is available here.
NAFCU President and CEO Dan Berger signed the MOU with EXIM President and Chairman Kimberly Reed last week. During the signing, Berger touted how the partnership with EXIM can help small businesses recover from the coronavirus pandemic as credit unions participate in EXIM business loan programs.
Prior to the MOU signing, Berger last month spoke with Reed about how credit unions can participate in EXIM programs and lending opportunities to provide credit to member businesses involved in exports. Reed recently touted the agency's work with the credit union industry during a Senate Banking Committee hearing.
NAFCU will continue to partner with agencies on efforts to bolster credit unions' small business lending and better meet members' needs.