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SBA's Barreto Meets with NAFCU, Encourages More CUs to Offer Loans

WASHINGTON - SBA Administrator Hector Barreto said credit unions can go a long way in helping small business owners get the capital they need to be financially successful. During a May 19 meeting at the SBA Expo in Orlando, Barreto talked with NAFCU President Fred Becker, NAFCU Senior Vice President...

By Staff Writer | Updated on June 01, 2004

WASHINGTON – SBA Administrator Hector Barreto said credit unions can go a long way in helping small business owners get the capital they need to be financially successful. During a May 19 meeting at the SBA Expo in Orlando, Barreto talked with NAFCU President Fred Becker, NAFCU Senior Vice President Bill Donovan and Regulatory Affairs Director Gwen Baker on the agency’s desire to see more credit unions involved in SBA programs. NAFCU was one of several honorary co-chairs of the Expo, which wraps up today. Barreto said the “three Cs” small business owners need to beat the odds are capacity, contract and capital. Small firms have the knowledge to develop the capacity and contracts they need to build alliances but credit unions can be instrumental in providing the capital to keep them going.

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