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Steady Loan Demand Coming From Frustrated Small Business Owners

MECHANICSBURG, Pa. -- It's probably no surprise that business owners frustrated with being turned down for funds to keep their companies afloat are turning to non-traditional lenders.

By Michelle A. Samaad | Updated on January 26, 2009

MECHANICSBURG, Pa. — It’s probably no surprise that business owners frustrated with being turned down for funds to keep their companies afloat are turning to non-traditional lenders.

Omar Shute is the executive director of the Cumberland County Economic Development division, which administers the Cumberland Small Business Fund, an initiative that helps micro businesses. The $1.5 billion Members 1st Federal Credit Union recently donated $20,000 to the loan program, which currently has $150,000 available to borrowers.

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