NAFCU Presses NCUA On Biz Loan Rules

NAFCU is asking that NCUA provide an exception to its "experience requirement" for lenders that have been approved by the Small Business Administration to make SBA-backed loans, since the SBA is providing a guarantee on the loans. Moreover, NAFCU is pressing the agency to consider utilizing the net member business loan balance for purposes of calculating the RBNW requirement and permit credit unions to exclude MBLs from the calculation of the RBNW requirement once the loan balance has been paid below the $50,000 threshold. On a related note, the trade group also wants NCUA to give special treatment to Farm Service Agency-guaranteed loans, allowing FCUs to follow the requirements of FSA programs.