ST. JOHN’S, Newfoundland–The provincial government of Newfoundland and Labrador has entered into a partnership with credit unions on a two-year pilot program to help small business.
The Small Business Loan Guarantee Pilot Program will provide loan guarantees for term loans issued by credit unions under their existing loan programs, VOCM reported. The province will issue guarantees of up to a total of $5 million dollars for the pilot.
Participating credit unions will provide the Department of Industry, Energy and Technology with activity reports on a quarterly basis, the report stated, noting commercial loans will be subject to standard audit and examination by the Credit Union Deposit Guarantee Corporation.
Just Because It’s Autumn Doesn’t Mean Falling for Schemes to Overcharge You for CU Industry News. Instead, Try This Crisp Offer
The biggest, best and freshest news reporting in credit unions remains free! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more. So stop paying those bank-fee-like subscription prices from other so-called “news” publications!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?