NAFCU-sought fix for SBA fees in short-term funding bill
In a win for credit unions, the short-term funding bill passed by the House Thursday includes a NAFCU-sought appropriation for the Small Business Administration (SBA) that would avert a potential shutdown of the 7(a) program and eliminate the need to raise fees. NAFCU witness Gail Jansen raised concerns about the increased fees during congressional testimony earlier this year.
Current government funding, including that for the National Flood Insurance Program (NFIP), is set to expire at the end of the month. The House-passed continuing resolution will extend funding until Nov. 21; the legislation must be passed by the Senate and signed by the president by Sept. 30 to avert a government shutdown.
Section 130 of the continuing resolution includes the SBA appropriation. Jansen, vice president of business services and operations at Kinecta Federal Credit Union, in April told members of a House Small Business subcommittee that 7(a) fee increases would make it more difficult for small businesses to get loans. Following Jansen's testimony, the House Small Business Committee requested the Government Accountability Office evaluate the SBA's fiscal year 2020 budget estimates for the loan program.
NFIP authorization would also be extended under the legislation. NAFCU has pushed for a number of improvements to the NFIP, including longer-term reauthorization of the program to prevent lapses.
In addition, Senate appropriators continue to work through individual, longer-term spending bills. It advanced the 2020 financial services and general government (FSGG) bill Thursday with funding for credit union programs, including $251 million for the Community Development Financial Institutions (CDFI) Fund. NAFCU urged the Senate to consider funding the program at the House-approved level of $300 million.
NAFCU also urged the Senate Appropriations Committee to support NCUA's Community Development Revolving Loan Fund at the same level as the House, but the Senate FSGG bill did not address funding the program.
NAFCU will keep credit unions updated as the Senate takes up the short-term spending bill to avoid a government shutdown and discussions continue on longer-term funding.
Add to Calendar 2019-04-16 14:00:00 2019-04-16 14:00:00 SBA One – An Overview SBA One is SBA’s rule-based loan origination platform. SBA One can assist lenders with loan eligibility, document generation, forms management, electronic signature and access to their SBA credit risk management scorecard. Don't miss this opportunity to learn the basics of SBA One. During this webinar we’ll discuss how to enroll in SBA One and provide an overview of the features and functionality such as creating a new loan, navigating the system and managing documents. Key Takeaways Learn what is required to begin using SBA One Walk through the enrollment process Review the benefits for using this system Identify how to originate loans via SBA One Discuss how to maneuver through the Documents section of the platform Register Now for On Demand AccessRegistration is free, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until April 16, 2020.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMs) Compliance staff Risk staff Operations staff Credit union employees that manage loans Open to all credit unions, regardless of membership or charter type! Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar. NCRMs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Education Manager, NAFCU Learning Objectives: Learn what is required to begin using SBA One. Walk through the enrollment process. Review the benefits for using this system. Identify how to originate loans via SBA One. Discuss how to maneuver through the Documents section of the platform. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Management Services National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
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