This week's edition of the SpringfieldBusiness Journal includes an op-ed by Missouri Credit Union Association President/CEO Mike Beall, highlighting the need to help small business owners and urging Senators McCaskill and Blunt's support of S. 2231, the Credit Union Small Business Jobs Act.
Credit union representatives aren’t the only groups highlighting the need to lift the arbitrary, government-imposed member business lending (MBL) cap from 12.25 to 27.5%. Forbes.com featured the need for increased access to capital through credit unions with an article by the Small Business Authority entitled “More Business Loans, No Tax Payer Subsidy” on February 10.
Credit unions have an opportunity to highlight the need for more small business lending during a Congressional hearing, following Missouri’s Hike the Hill in Washington, D.C. The U.S. House Subcommittee on Financial Institutions and Consumer Credit will hold a hearing on the credit union member business lending (MBL) bill on October 12. Missouri U.S. Rep. Blaine Luetkemeyer (R-District 9) is a member of the subcommittee.