A Consumer Financial Protection Bureau rule to require financial institutions to report data on their lending to minority-owned and women-owned businesses should include as many banks and credit unions as possible, with the information easily [...]
For many banks, the ability to offer small-business loans efficiently, quickly and compliantly has been more of an aspiration than a reality. The technical, financial and staffing obstacles involved in launching small business loan products [...]
It’s been more than four months since the coronavirus pandemic halted the U.S. economy, closing businesses and offices across the country. Many credit unions that participated in business lending had portfolios heavily focused [...]
The NCUA and Small Business Administration (SBA) will host a webinar aimed at strengthening credit unions' small business lending Nov. 13. While the first webinar hosted by the agencies last month provided an overview of [...]
The NCUA and Small Business Administration (SBA) will hold a webinar Oct. 16 to share benefits of credit unions participating in various SBA loan programs. NAFCU works closely with the SBA to expand access to [...]
Credit unions this year have a big opportunity to expand their business lending, according to Raddon–but a lot of that will depend on the performance of front-line staff. Raddon told CUToday.info that a [...]
New research shows the majority of small businesses are planning for growth, which they anticipate funding through lines of credit and business loans. According to the Raddon Research Insights: Winning Small Business Customers study, 79 [...]
CUNA met with the Consumer Financial Protection Bureau’s business lending team Tuesday to discuss small business lending data collection. The business lending team is currently implementing section 1071 of the Dodd-Frank Act, which requires [...]
Credit union approval rates for small business loan applications improved to 44.5% in November from 43.4% in October, according Biz2Credit, a funding source for small businesses. A Dec. 12 article from the Fox [...]
Credit unions share the U.S. House Small Business Committee's goal of increasing small business access to capital through the reduction of statutory and regulatory impediments. The Credit Union National Association suggested several ways that [...]
Have you walked into your local bank branch recently? Probably not. Why would you? But if you did, you would find a large peaceful empty space like a church on Wednesday, and perhaps a few [...]
By Kent Moon Lenders need to be prepared for continual and often rapid shifts in the economy. One such change is increasing interest rates, an abrupt wake-up call that is occurring. The average rate on [...]
It’s a fascinating time to be active in the small business lending market. There is a tremendous amount of activity and innovation from new and existing small business lenders in the market. By Brock [...]
BY MICHELLE SAMAAD A new report from the Filene Research Institute explores the opportunity for credit unions to form lasting partnerships with small business through microlending. The report, “Microloan Feasibility Study: Can Small Business Lending [...]
By Rohit Arora, CEO of Biz2Credit Two recent reports indicate that the outlook for small businesses is brighter than it has been for quite some time. The Biz2Credit Small Business Lending Index, my company's monthly [...]
