The House Small Business Committee will hear directly from credit unions about serving small businesses at its hearing today.  Mike Sims, chief commercial banking officer at Georgia’s Own Credit Union, is testifying on behalf of America’s Credit Unions to share how credit unions’ efforts in building personal, meaningful relationships benefit members, businesses, and communities.

The hearing is focused on Small Business Administration (SBA) lending programs and the role of community financial institutions. Loans made under the SBA’s 7(a) program, for example, are up to 85% guaranteed by the government, and the guaranteed portion does not count against the credit union member business lending cap.

Georgia’s Own Credit Union was ranked the number one 7(a) lender in Georgia last year. 

The hearing is scheduled to start at 10 a.m. Eastern and streamed live.