CUNA Pushes For Improvements In Government-guaranteed Lending – CUInsight
CUNA pushes for improvements in government-guaranteed lending – CUInsight
CUNA encourages Congress to improve credit unions’ ability to offer Small Business Administration (SBA) 7(a) loans, as well as other government guaranteed loans, CUNA President/CEO Jim Nussle wrote to leadership of a House Small Business subcommittee Thursday. SBA 7(a) and other government-guaranteed loans are important to credit unions because the guaranteed portions of the loan do not count against the member business lending cap.
“Congress should exempt government guaranteed loans in their entirety from the credit union member business lending cap; currently, only the guaranteed portion of the loan is exempt,” Nussle wrote to Reps. Trent Kelly (R-Miss.) and …