Get a Piece of $30 Billion Fund for Your Small Business
On Thursday, the U.S. Treasury Department approved Community Trust Financial Corporation (located in Rushton, Louisiana) to participate in the Small Business Lending Fund (SBLF.) Community Trust Financial Corporation is the 6th bank selected for the SBLF.
The SBLF is a $30 billion fund (which we discussed in June 23’s blog), which is being distributed between qualified community banks to increase lending to small businesses.
“The Small Business Lending Fund enables community banks across the nation to help small businesses put Americans back to work,” says the U.S. Treasury’s page on the SBLF. So far the six approved banks have received $123 million, meaning there is plenty of money left for banks near you!
The other five banks approved are:
– Level One Bancorp, Inc in Farmington Hills, MI for $11.3 million
– Pioneer Bank, SSB in Drippings Springs, TX for $3.0 million
– ServisFirst Bancshares Inc. in Birmingham, AL for $40.0 million
– U&I Financial Corpin Lynnwood, WA for $5.5 million
– Virginia Heritage Bank in Fairfax, VA for $15.3 million
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