Credit Unions Assist People with No Credit
Credit Unions Assist People with No Credit
If you are aspiring to open a small business, for instance, landscaping, you will more likely need a loan. However, if you do not have any credit at all, going to a bank will be useless because they will not give you the loan.
In this case, a credit union will be your solution. It is the only financial institution that will be eager to help you develop a credit report. Unlike banks, they will have faith in you and appreciate your business plan.
Take for example Landscapes by Martin. It is already a successful local business and the owner was assisted by a credit union, Cornerstone.
However, Cornerstone Credit Union has reached its limit on the total of business loans they can give. This indicates they might not be able to help some of the aspiring small business owners, like that of Landscapes by Martin, if the Congress does not provide any form of assistance.
Both Senator Charles Grassley and Senator Tom Harkin are advised to vote for the Credit Union Small Business Jobs Bill. This bill aims to increase the lending limit so that more small businesses will be provided some kind of help by the credit unions.
Cornerstone, a small local credit union, is a reliable financial institution, owned by the locals, and it is also not-for-profit. It is located in Iowa and works together with small businesses to provide jobs for the locals.
According to the owner of Landscapes by Martin, because of the trust of Cornerstone, the small local landscaping business has been able to employ people, and the jobs they have are very important to them.
If the senators of Iowa vote for the Credit Union Small Business Jobs Bill, it will be a huge help to the small business owners. Moreover, increasing the lending limit is advantageous for the economy of Iowa.
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Filed under: bad credit • Credit • line of credit • Loans • very bad credit • very bad credit loans
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