SAN DIEGO — CUSOs can play a pivotal role in leading small businesses “out of a fog of economic uncertainty,” John Wade, financial analyst with the Small Business Administration, told attendees at NACUSO's recent member business services alliance here.
During an Oct. 16 session, Wade spoke on the current condition of small business and small business lending.
“CUSOs have a pivotal role in providing their expertise in business lending to credit unions, and in partnering with SBA to lead small business out of this fog of economic uncertainty. The moment has come, the time is now, and it's up to us to make sure those services can be delivered,” Wade said. “CUSOs have an extraordinary opportunity, currently, to provide their expertise in lending.”
Wade said SBA also offers services some individuals might be unfamiliar with that CUSOs could provide as additional lines of service, such as a secondary market and ETRAN capability, a Web-based loan application solution developed by the agency to save lenders time and resources. Wade also pointed to the www.sba.gov/banking site, which provides lenders with standard operating procedures, regulations, and the opportunity to see SBA's different servicing centers, whether it's for loan processing, servicing or liquidation.
One hundred twenty-five attendees participated in NACUSO's fourth annual business services event that focused on the collaborative growth of credit union business services.
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