You are here:HomeNews CenterInsurance News2011Community Banks Receive New Funds for Small Business Loans

Community Banks Receive New Funds for Small Business Loans

An FYI from the PIA National Business Issues Committee (BIC): The U.S. Department of the Treasury has announced that 17 community banks across the country...
July 26, 2011

An FYI from the PIA National Business Issues Committee (BIC): The U.S. Department of the Treasury has announced that 17 community banks across the country received a total of $214 million as part of the next wave of funding provided through the Small Business Lending Fund (SBLF). The SBLF, which was established as part of the Small Business Jobs Act that President Obama signed into law, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs. So far, 23 community banks have now received a total of $337 million in SBLF funding. Additional SBLF funding announcements will be made on a rolling basis in the weeks ahead. A complete list of the community banks receiving the small business loan funds is available here.