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More Community Banks Receive New Funds for Small Business Loans

The U.S. Department of the Treasury announced that an additional 37 community banks across the country received a total of $418 million as part of...
August 23, 2011

The U.S. Department of the Treasury announced that an additional 37 community banks across the country received a total of $418 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.

Including the latest announcement, 80 community banks have now received more than $1.0 billion 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.