ALEXANDRIA, Va.–NCUA and the Small Business Administration will host a joint webinar, “Balancing Member Business Loan Portfolios with SBA Guarantees,” on March 4, at 2 p.m. ET.
The webinar is the first initiative of the new NCUA-SBA partnership. The two agencies signed a Memorandum of Understanding on Feb. 6, outlining a series of educational initiatives during the next three years that include webinars, examiner training on SBA programs, data resources and media outreach.
“Credit unions can play an important role in stimulating economic growth in their communities through loans to their member small businesses,” NCUA Board Chairman Debbie Matz said. “With a significant portion of principal guaranteed by the government, SBA loans rank among credit unions’ safest loans. I encourage all credit unions to participate in this webinar.”
“Since 2011, the outstanding balance of SBA loans by credit unions has seen nearly a 50% increase—from $810 million to $1.2 billion,” SBA Administrator Maria Contreras-Sweet said. “This signals a growing demand for SBA loan programs. Millions of Americans have used their credit union to finance their car, home or children’s education. We want to empower credit unions to finance small business start-ups, too.”
During the 90-minute webinar, Dominic Carullo, an economic development specialist with NCUA’s Office of Small Credit Union Initiatives, will moderate a panel featuring:
- Ann Marie Mehlum, associate administrator, Office of Capital Markets, SBA
- William Myers, director, Office of Small Credit Union Initiatives, NCUA
- Vincent Vieten, member business lending program officer, Office of Examination and Insurance, NCUA
The panel will discuss what programs SBA offers to small business, how these loan programs can enhance a credit union’s member business lending program, and the requirements for setting up and managing an SBA-loan program. Matz and Contreras-Sweet will provide opening remarks.
Online registration is available here.