The Small Business Administration and NAFCU on Wednesday signed a memorandum of understanding intended to increase the number of credit unions offering SBA loans.
The memorandum will increase the number of credit unions offering 7(a), 504, and Community Advantage SBA loans, agency Administrator Linda McMahon told those attending the NAFCU Congressional Caucus.
NAFCU officials said that credit unions will benefit from the reduced risk on small business loans and from increasing the financial resources available to their small business members.
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