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Inside Washington (07/18/2011)
* WASHINGTON (7/19/11)--Sen. Chris Coons (D-Del.) recently congratulated $338 million asset Dover (Del.) FCU, Dover, Del. on its first Small Business Administration (SBA) loan.
“Getting our economy moving again means giving small business owners the tools they need to turn their ideas into reality,” said Coons (pictured fourth from the right). “By helping promising entrepreneurs get access to the capital they need to grow, we are helping more Delawareans get back to work. That’s why these SBA loans are so important.” Dover FCU received SBA certification earlier this year, providing access to additional capital to help entrepreneurs open and expand businesses. SBA loans are part of a business products and services portfolio launched by the credit union in April. CUNA and credit unions are pressing Congress to increase credit unions’ member business lending (MBL) cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said. (Photo provided by Dover FCU) …


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