CNN Money Highlights CU Biz Lending Posted by AVCU on 10:21 AM

The Small Business section of CNNMoney.com on 9/2/09 points to credit unions as a growing solution for viable small businesses meeting increasingly tough times with traditional commercial banks and other lenders. The story cites four examples of small business owners successfully improving their financial posture moving away from banks. Among those examples is the story of husband and wife owners of a 19 employee electric company in Florida. Sharon and Mike consolidated their mortgage and six vehicle loans into a single loan with Grow Financial CU when traditional business lenders turned them down. Refinancing with the credit union saved the small business $4,000 per month. The other examples of alternative financing cover SBA loans, microloans and peer-to-peer lending. Read the entire story here.