At recent gathering with Minnesota legislators, raising the member business lending cap was among the topics up for discussion.
The Minnesota Credit Union Network hosted the Sept. 27-28 meetings with Rep. Tim Walz (D-Minn.) and Sen. Amy Klobuchar (D-Minn.) The conversations focused on the Small Business Lending Enhancement Act (H.R. 1418 and S. 509), which would increase the MBL cap from 12.25% of assets to 27.5%.
Speaking at the $104 million Accentra Credit Union in Austin, Minn., Walz indicated that he has heard stories of small businesses that are struggling to obtain loans.
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