David Kirkpatrick

March 10, 2010

A new small business loan solution from a Congressman

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 12:53 pm

Raise the cap on credit union small business lending. Sounds reasonable.

From the link:

Rep. Paul Kanjorski (D., Penn.) has offered one solution to this problem: lifting the cap on credit unions’ loans to small businesses, allowing them to extend more loans to help the economy grow. When I spoke with Rep. Kanjorski about his proposal, he told me that credit unions lent wisely before the crisis, and are lending more now. Credit union business lending grew by more than 11% in 2009. Now credit unions are facing a statutory cap on lending. To fill a void in business lending, Rep.Kanjorski says credit unions need Congress’ help.

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