SmallBusinessNewz

Small business owners who thought they were out of funding options may have one more alternative.  It seems that credit unions - yes, the financial institutions that often serve college students and economically disadvantaged individuals - are being relatively free with business loans.

Since it's a little bit hard to guess how credit unions can remain standing while well-known banks are weak or even close to going out of business, Jilian Mincer explains the situation.  "Most credit unions didn't get in on the subprime-loan market, so they're not smarting from multibillion-dollar losses like many banks," she writes.

Also, many credit unions "have extra cash because deposits increased in 2008 as more investors abandoned the stock market and sought greater certainty in savings accounts," according to Mincer.  "So credit unions are more able -- and willing -- than most of their banking counterparts to dole out money to small businesses."

For small businesses owners who have already made their way through banks, credit cards, friends, and relatives seeking money, credit unions could prove to be lifesavers.  And they'll be a nice resource for people who haven't exhausted all those possibilities, too, of course.

Just take note: a federal law prevents credit unions from letting business loans equate to more than 12.25 percent of their assets.