A buzz has been created recently as reports that the U.S. Treasury’s funding of the Small Business Lending Fund grew by over $1.5 billion between the third and fourth quarter last year. This is exciting as getting funding to local banks and community development loan funds and in the hands of America’s smallest business is a great way to stabilize and grow the U.S. economy. Getting money to the self-employed will lead to more jobs and stronger communities.
Our very own President & CEO Kristie Arslan also weighed in saying “Seeing the growth in small-business lending is a promising signal to the self-employed and micro business owners across the country. However, we cannot stop here, we hope to see a continued commitment from this administration and the Treasury Department. ”
Here are some snap shots from local media outlets that have been picking up the story:
Charlotte Observer: N.C. small-business lending up $290M through federal program
North Carolina's small businesses have received a boost of $290.8 million in loans thanks to a federal program designed to increase lending to such businesses, the U.S. Treasury Department reported Wednesday.
St. Louis Business Journal: Mo. banks increase small-business lending by $209 million
Eight Missouri community banks that received capital through the Small Business Lending Fund (SBLF) have increased lending to small businesses by $208.6 million during the recession, the U.S. Department of the Treasury reported this week.
Denver Post: Small business lending in federal program grows in Colorado
Colorado banks participating in a special federal lending program for small businesses have increased their lending by more than $214.8 million since 2010, a U.S. Treasury report shows.
To see the full article, head over to the Treasury Departments website.
Did you know that the NASE has awarded over a half a million dollars through our Growth Grants® program? If you are a NASE member and are looking to grow your business, be sure to read about all the grants and scholarships the NASE offers.