WASHINGTON—NAFCU has written to Rep. Blaine Luetkemeyer (R-MO) to offer support for the IMPROVE the SBA Act, introduced by Luetkemeyer last week.
The legislation would reform the Small Business Administration (SBA) and prohibit the agency from engaging in any direct lending programs.
"Using the proven model of public-private partnerships with SBA programs is a commonsense approach to ensuring SBA funds are properly used to target the communities they are intended to help," wrote Vice President of Legislative Affairs Brad Thaler. "Any incursion into direct lending by the SBA comes with peril given the Federal government’s track record of fraud and failure in past direct lending.
“Credit unions appreciate the opportunity to partner with the SBA and offer SBA products to their members,” Thaler added. “We look forward to working with you on this legislation to ensure it continues that relationship.”
‘Critical’ Shift Needed
In addition, NAFCU President and CEO Dan Berger thanked Luetkemeyer for the introduction of the legislation.
"NAFCU commends Ranking Member Luetkemeyer for recognizing the need for common-sense reform at the Small Business Administration and his leadership in introducing the IMPROVE the SBA Act," said NAFCU President and CEO Dan Berger. "It is critical we shift the SBA back to its core mission, and NAFCU supports efforts in the legislation to prohibit the Administration from engaging in additional direct lending that could hurt existing small business-lender relationships -- a win for credit unions that have continued to serve their members and have never lost sight of their community’s job creators."
You May Be (Actually Are) Missing Out!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And 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.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com