CU Small Business Financing Alliance Website Goes Live (Monitor: May 3, 2010)
The Credit Union Small Business Financing Alliance (CUSBFA) website went live Monday as participants move toward their goal of linking credit union financing with budding Michigan businesses. The website, www.cusbfa.com, has information for businesses and entrepreneurs as well as credit unions and CUSOs.
The CUSBFA is a partnership between the Michigan Economic Development Corporation (MEDC), the Michigan Small Business and Technology Development Centers (MI-SBTDC), and the MCUL, with more than 30 Michigan credit unions committing an initial $43 million that will benefit more than 2,000 new businesses. More credit unions are expected to join throughout the year.
“Michigan is committed to creating a robust, supportive culture of entrepreneurship that will strengthen and diversify the state’s economy,” said MEDC President/CEO Greg Main. “This partnership between the state and credit unions is a driving force in this effort, empowering small business owners and entrepreneurs to pursue their dreams and helping them to succeed.”
David Adams, MCUL President/CEO, emphasized that Michigan credit unions are well-positioned to help the small business community, despite the rough condition of the state economy.
“Michigan’s credit unions have experienced strong growth and have the capital to help fund entrepreneurs and small business owners,” Adams said. “The online tools are now available to connect them with local credit unions to apply for the necessary funding to start or grow their business.”
Visit www.cusbfa.com to view the resources and information available to the specific types of participants.