Creditors' concerns with the SBA and getting more credit unions to participate in the agency's loan programs were among the topics at a recent roundtable hosted by Sen. Mary Landrieu (D-La.), chairman of the Senate Small Business Committee, and SBA Administrator Karen Mills.
CUNA Deputy General Counsel Mary Dunn told Mills and Landrieu that credit unions want to work more with the SBA. She asked both to consider making permanent the agency's 7(a) loan 90% guarantee, which was recently approved temporarily. Dunn discussed containing all fees under all of the SBA's programs and ensuring that the agency has sufficient personnel to help review loan applications, handle problems and process guarantee payments to lenders in the case of a borrower's default.
Dunn said Mills is "very proactive" and wants the agency to run more efficiently.
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