Cooperative businesses must be able to fully participate in the Paycheck Protection Program created by the CARES Act, CUNA wrote to the SBA, as credit unions can make loans using the funds but, it’s unclear if they are allowed to participate in the PPP as well.
CUNA is concerned about a proposed increase in fees related to the Small Business Administration’s 7(a) program, particularly since it believes it could come with unintended consequences to small business borrowers.
CUNA is concerned about several recently proposed changes to the Small Business Administration’s regulations pertaining to Express Loans and Affiliation Standards. CUNA sent a letter to the SBA Tuesday on the proposal.
CUNA participated in a roundtable Thursday led by the Small Business Administration's Office of Advocacy to discuss the latest Bureau of Consumer Financial Protection rulemaking agenda, which was released last month.
The House passed the CUNA-supported Small Business 7(a) Lending Oversight Reform Act Tuesday by a voice vote. It would enhance accessibility of capital available under the Small Business Administration’s 7(a) loan program.