Credit Union Small Business Lending Act

Summary

Credit Union Small Business Lending Act - Directs the Administrator of the Small Business Administration (SBA) to establish a dedicated process by which credit unions participating in a certain small business loan program may receive approvals and repurchases concerning program loan guarantees. Requires such process to: (1) be distinct from that used by participating non-credit unions, and (2) make use of existing agency resources. Amends the Small Business Act to direct the SBA Administrator to implement a program to: (1) provide outreach and assistance to credit unions to increase their participation in the SBA small business loan program, (2) simplify the application process for such participation, and (3) provide a guaranty of up to 85% for loans made by credit unions to their members in underserved areas.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 March 2012

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• Introduced in House (PDF)

  Introduced in House · EN · 8 March 2012

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• Introduced in House

  summary · EN · 8 March 2012

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