Small Businesses: Need a Loan to Get through the Coronavirus? Consider a Credit Union
Credit unions are an important source for PPP and other loans for small businesses
By Christopher Starr, Director of Technical Assistance
Many small businesses are looking for resources and support to make ends meet during the coronavirus pandemic. The Small Business Administration’s Payroll Protection Program (or PPP) is one of the most well-known sources of funding and available through financial institutions that partner with the SBA. Many people have applied through traditional banks for a loan. Unfortunately, because traditional banks have been using their usual, strict underwriting standards to decide whether or not to give a loan—rather than taking into account the unusual circumstances caused by the pandemic—too many […]