NCUA will join the U.S. Small Business Administration to present a webinar focused on small business lending.
The two agencies will hold the webinar on March 4 as the first in a series of events that will come out of a partnership the NCUA and SBA formed earlier in February. The agreement calls for educational initiatives during the next three years, which will include webinars, examiner training on SBA programs, media outreach and data resources.
The outstanding balance of SBA loan made by credit union has grown significantly since 2011 to $1.2 billion from $810 million, SBA Administrator Maria Contreras-Sweet said in a press release. She will give opening remarks at the March 4 webinar along with NCUA Board Chairman Debbie Matz.
"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," Contreras-Sweet said.
Following these remarks, a panel discuss will take place and will be moderated by Dominic Carullo, an economic development specialist with the NCUA's Office of Small Credit Union Initiatives. The panel will focus on how the SBA's small business-oriented programs can enhance credit unions' lending programs and how to set up SBA-loan program and manage it.
Registration for the webinar is available online. Interested participants can also submit questions ahead of time by email.
The webinar is just the latest in a series of moves by SBA recently to team up with credit union organizations in an effort to connect more small businesses in need of loans with credit unions willing to make those loans.