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More Small Business Lending Brings SBLF Total to $337 Million
Published on Jul 26, 2011
Read 'More Small Business Lending Brings SBLF Total to $337 Million' at 'Time to Start Up,' the small business blog by BizFilings.
With the help of the recent $214 million that the U.S. Department of Treasury dispersed to 17 community banks, there are now 23 community banks that have received a total of $337 million from the Small Business Lending Fund (SBLF).
“Continuing to unlock access to capital for Main Street entrepreneurs is vital to strengthening economic growth and job creation in local communities across our nation,” said Rosie Rios, treasurer of the United States.
Employing nearly half of the nation, and accounting for approximately 60 percent of gross job creation, small businesses need the funding to continue to grow. The SBLF was put together by President Barack Obama’s administration to help small businesses get the money they need to hire, and to fund new projects.
Adding another small business to the list of SBLF beneficiaries was approved by the U.S. Treasury Department, granting approval to the First Savings Financial group to acquire an investment of $17,120,000.
With 12 offices in Indiana, First Savings Bank will receive the capital in the form of preferred stock of the company.