Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
#NewHampshire CUs briefed on IOLTAs http://t.co/HPnAkzLrTp
1 hour ago
App puts #CUNAGAC in palms of attendees' hands #NewsNow http://t.co/piabPHIGb5
17 hours ago
App puts #cunagac in palms of #creditunion attendees' hands http://t.co/2XZC3LWw6Z
18 hours ago
Breaking at #NewsNow: @CUNA files amicus brief in Florida interchange case. http://t.co/gWSBjCtSD7
19 hours ago
What is the @NCUFoundation ? Watch this Foundation video: http://t.co/iC6XoInU7r
21 hours ago