Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
IBusiness WeekI CUs small biz loans way up
NEW YORK (10/24/08)--Credit unions originated $6.5 billion in business loans during the first six months of 2008, Credit Union National Association Chief Economist Bill Hampel told Business Week online. In its Wednesday article, "Small business loans from credit unions way up," Business Week noted that credit unions' increase in originating business loans is one more indicator of credit conditions for small businesses. Small business owners are turning to credit unions for financing. Business loans at credit unions are up 36% from the $4.8 billion they loaned in the first six months of 2007, Hampel said. In 2007, commercial banks originated about $287 billion in small business loans. "So credit unions, like microlenders are a relatively small source of small business lending, but with many banks in bad shape, it looks like they may be increasingly important," said the publication. The publication advised entrepreneurs to consider a credit union or microlender for financing.
Other Resources

RSS print
News Now LiveWire
@AdamMertzCUNA @CUNACraig @AnnHPeterson @CUEscan @cumagazine
28 minutes ago
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
10 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
11 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
11 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
11 hours ago