Tags: Treasury | Community | Banks | loans

Treasury Provides $767 Million in Loans to Community Banks

Wednesday, 31 Aug 2011 11:27 AM

 


The U.S. Treasury Department said today it is providing $767 million in loans to 50 community banks as part of its Small Business Lending Fund.

The Small Business Lending Fund now has invested more than $1.8 billion in 130 community banks, the Treasury said in a statement sent by e-mail. The $30 billion program provides capital to banks with under $10 billion in assets to encourage more lending to small businesses.

“These funds will provide a powerful incentive for community banks to expand their lending to small businesses, spurring new investment and job creations,” Treasury Deputy Secretary Neal Wolin said in the written statement.


© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved