2008-05-30 23:23:51 -

www.californiacu.org/ - California Credit Union (CCU) is now approved to participate in the Small Business Administration's 7(a) and Express loan programs.

"Small business is a staple of American commerce and ingenuity," says Ron McDaniel, California Credit Union President and CEO, "We're proud and very excited to be able to help foster such a crucial segment of American business. Our goal, after all, is to help all of our members realize their dreams and aspirations through smart fiscal management."

The program, that helps business owners who would generally not be able to secure loans through normal channels, helps start and support countless small business by guaranteeing loans made through private lenders like California Credit Union.

Small businesses have

always been a priority for America. In fact, President Bush's 2009 budget will expand the SBA 7(a) loan program to $17.5 billion in guaranteed loans for small businesses' working capital and other business expenses, a 29-percent increase over 2007 lending. There were nearly 24 million small businesses (about 1/3 of which are run by women) in the U.S. by 2004 and today, small businesses employ half of the nation's work force. They also represent 60-80 percent of net new jobs.

McDaniel says he takes pride in supporting a sector of business responsible for creating so many new jobs in an economy where they're getting harder and harder to find.

"New job creation by small businesses helps everyone," says McDaniel, "It helps the owners, who can expand and grow their businesses, it helps new employees who might not otherwise have been employed, and it helps the economy, because both owners and new employees have money to spend in the market at large."

California Credit Union encourages anyone interested in obtaining an SBA 7(a) loan to visit www.californiacu.org or call (800) 334-8788.

Since being chartered more than 75 years ago by a small group of Los Angeles teachers, the education community has built California Credit Union into a billion-dollar federally insured financial institution. CCU is a not-for-profit financial services institution serving nearly 80,000 members with 12 convenient branch locations throughout Los Angeles County. Membership is open to schools, school-related organizations and individuals in the California private and public education community. For more information about CCU, call (800) 334-8788 or visit www.californiacu.org. For more information on California Credit Union Business Services, call (866) 438-1899.

California Credit Union
Ron Stratman
(818) 291-5539
RonS@californiacu.org