Thank You Credit Unions! At the end of the first quarter this year, small business loans from credit unions were up 20% compared to first quarter of last year. The dollar amounts were $28.4 million versus $23.7 million. Loans were originated by 101 of Ohio's 384 credit unions. So reported Dayton's Business Journal. Small businesses need loans badly and have had a hard time finding them. They basically have to be a perfect scenario before they can approach some lending institutions. The credit union lending story is good news indeed!
Now we have to do our part. Make a pledge to yourself to support small businesses in your community next month. I say next month because it is a short term action plan and hopefully will get you to have a long term one. The owners usually live there, the taxes will stay there, and you live there while you use their services and/or products. Three good reasons why it will keep your town strong.
A town stays strong where business, education, the arts/recreation, to name just a few, are all connected.
By supporting one another, volunteering, and using your skills/talents the town continues to save its foundation while renovating its present and preparing its future. You also make a contribution by supporting small business. They pay back those loans and pay for Little League T-Shirts because they are still in business and growing.
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