It’s nice to see small businesses getting the long awaited chance to get additional financing, but really we have to ask ourselves if the banks are going to treat this deposit of federal capital by the government just as they all did with the bailout money. Can bi-partisan politics be kept out of the issue long enough to stimulate small business lending and boost jobs figuers? We’ll just have to wait and see. – Small Business Advice For Today’s Economy!
The six community banks that received funding through the first wave of SBLF capital include: • Community Trust Financial Corporation (Ruston, La.) – $48.3 million • Level One Bancorp, Inc (Farmington Hills, Mich.) – $11.3 million • Pioneer Bank, SSB (Drippings Springs, Texas) – $3.0 million • ServisFirst Bancshares Inc. (Birmingham, Ala.) – $40.0 million • U&I Financial Corp (Lynnwood, Wash.) – $5.5 million • Virginia Heritage Bank (Fairfax, Va.) – $15.3 million Additional SBLF funding announcements will be made on a rolling basis in the weeks ahead, according to the Treasury Department.
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