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Dayton Business Journal...
Report: Ohio
community banks raise small business lending
by Laura Englehart
Thursday, April 12, 2012
Ohio community banks have increased small-business lending by $31.6
million, according to the U.S. Department of the Treasury.
Since receiving Small Business Lending Fund dollars through the Small
Business Jobs Act of 2010, community banks have provided more loans of
$10 million or less to businesses with $50 million or less in revenue
that fall within certain categories.
The SBLF lends to community banks or bank holding companies with
consolidated assests of less than $10 million.
Across the U.S., institutions participating in the fund boosted
small-business lending in the final quarter of 2011 by $1.3 billion
compared to the previous quarter for a total of $4.8 billion over their
baseline, according to a recent Use of Funds Report.
Five Ohio banks and holding companies were listed in the report:
Columbus First Bankcorp Inc., Community Independent Bancorp Inc.,
Indebancorp, Insight Bank and Economic and Community Development
Institute Inc.
The Department of the Treasury invested $4 billion in 332 institutions
in 48 states through the fund, meant to help small-businesses access
capital to hire more employees and spur investment.
“This report shows that the Small Business Lending Fund is having a
powerful impact,” said Neal Wolin, Treasury deputy secretary. “The
program is helping spark new lending to local entrepreneurs looking to
invest in their businesses and create new jobs.”
Read this and other articles at Dayton Business Journal
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