Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
N.C. sets 6.5M to insure Self-Helps small-biz loans
DURHAM, N.C. (10/12/10)--North Carolina has set up a $6.5 million Small Business Assistance Fund to insure Self-Help CU in Durham, N.C., as it helps small businesses that might not otherwise qualify to borrow. The fund uses $1.5 million from the North Carolina legislature, plus a $5 million grant from the North Carolina Golden LEAF Foundation (The Fayetteville Observer Oct. 7). The $6.5 million will allow the fund to cover defaults, Dan Gerlach, Golden Leaf Foundation president, told the newspaper. “This enables them to take some of those loans that might be at the edge, might give them enough confidence to take the loan,” he said. Self-Help agreed to leverage the $6.5 million to lend as much as $32.5 million, Donna Flick, an underwriter at the North Carolina Rural Economic Development Center, which is administering the project for the state, told the paper. To read the article, use the link.
Other Resources

RSS print
News Now LiveWire
Expanded ATM services at branches attractive to members: @CFIGroup. See #NewsNow Friday
2 hours ago
#FinCEN imposes civil money penalty against NJ's BPI money services co. for #BSA violations http://t.co/WnDzOcxdOZ
5 hours ago
.@ABCULCUs give hat tip to America's #100MM #creditunion milestone http://t.co/q8yo6Lx3LM
5 hours ago
The @CFPB has announced new Credit Union Advisory Council members, as well as other senior leaders, advisory board and council members.
6 hours ago
GDP expanded 4.2% on an annualized basis in 2Q according to Bureau of Economic Analysis
7 hours ago