The Small Business Administration (SBA) has been providing financial assistance
to small businesses since 1953. Currently, SBA is the largest financier of U.
S. businesses in the country with more than 219,000 loans totaling more than
$45 billion in its business loan portfolio. SBA also assists small businesses
in times of disasters and provides financial counseling to minority-owned businesses.
Although SBA can lend directly to individuals, the agency generally will participate
with loans originated by approved SBA licensed lenders. SBA offers a variety
of financing options to the borrower along with a range of guaranty options
for the lending institution.
According to the National Association of Federal Credit Unions, all federally
insured credit unions became eligible to participate in the SBA lending programs
on February 14, 2003. As of March 2004, 150 credit unions have applied for eligibility.
At present, 57 credit unions report over $125 million in SBA loans. Here is
a look at the top ten credit unions in SBA loans originated.