H.R.4191 - Credit Union Small Business Lending Act

To amend the Federal Credit Union Act and the Small Business Act to improve small business lending, improve cooperation between the National Credit Union Administration and the Small Business Administration, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend the Federal Credit Union Act and the Small Business Act to improve small business lending, improve cooperation between the National Credit Union Administration and the Small Business Administration, and for other purposes. as introduced.
  • Short: Credit Union Small Business Lending Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/08/12
 
 
 
 
 
 
 

Official 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 guarant

Official 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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Organizations Supporting H.R.4191

  • National Association of Federal Credit Unions

Organizations Opposing H.R.4191

  • None via MapLight at this time.


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