State leaders in PPP lending
Which credit unions led their states in the number of Paycheck Protection Program loans funded?
The availability of funding for small businesses is essential to keeping local economies afloat. In a 2019 Forbes article, writer Nish Acharya notes: “Across America, cities, states, and regions have spent the last decade transforming their economic development strategies to emphasize local entrepreneurship, university partnerships, and local small business support.”
That kind of activity extends to credit unions, too.
“We have been providing small business loans to the community for more than 20 years,” says Dan Smithson, CEO of Star USA Federal Credit Union ($158.7M, Charleston, WV). “We know firsthand the role these businesses play in our local economy.”
Indeed, small businesses play a critical role in local economies. Unfortunately, the coronavirus pandemic has forced businesses to close for health and safety concerns, throwing into flux the future of companies, jobs, livelihoods, and communities.
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