Washington DC

Shareholders in Subchapter S corporations will get some tax relief of their own under a new Treasury Department rule that will let them take a 20% deduction on qualified business income, which includes loan originations and sales.

The shutdown is keeping the agency from approving about 300 loans per day, according to CBA President Richard Hunt.

Credit union and bank executives say the federal work stoppage hasn’t hit business lines yet, but that could change if things drag on much longer.

Farm Service Agency staff will have three days to work on existing loan applications and provide tax documents for existing loans.

Though it would be based in the nation's capital, MOXY Bank would also have significant operations in Charlotte, N.C.

The impasse has halted grant and loan applications and frozen many farm subsidies just weeks ahead of planting season.

Despite the ongoing federal work stoppage, some scheduled activities are still taking place this week in Washington.

The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.

President Trump has threatened that the closure may go on for a prolonged period. This could lead to higher loan delinquencies at credit unions that serve federal workers.

The 10 startups will receive initial investments, mentoring and training as part of the ICBA ThinkTECH Accelerator.