InfoSight – SBA Lending

According to the InfoSight Compliance e-newsletter, The House passed a CUNA-supported bill Tuesday that would enhance accessibility of capital available under the Small Business Administration’s 7(a) loan program. The Small Business 7(a) Lending Oversight Reform Act of 2018 (H.R. 4743) passed by a voice vote.

Up to 85% of the amount of a loan made under the 7(a) program can be guaranteed by the government, and the guaranteed amount does not count against credit unions’ statutory member business lending cap.  Click here for additional information.

InfoSight – Tax Issues

Although ongoing legislation can sometimes make tax issues a moving target, the Tax Issues channel is the place to find information on important topics such as Backup Withholding; IRS forms 1098, 1099, W-8BEN and W-9; responding to an IRS Summons and more.

Be sure you are kept up-to-date with the information in the Tax Issues channel today!

Read the full InfoSight newsletter here.