More SBLF Allocations Announced

August 16, 2011

The U.S. Department of the Treasury (Treasury) today announced the latest round of funding via the Small Business Lending Fund (SBLF), with 37 community banks receiving $418 million in SBLF funds.

Thus far, 80 community banks have received more than $1.0 billion in SBLF funding. In announcing its first wave of funding in July, Treasury reported that additional announcements regarding further funding developments would be forthcoming on a rolling basis.

The SBLF fund was created in September 2010 when Congress passed and President Barack Obama signed into law the Small Business Jobs Act. In December 2010, NSBA joined Sens. Mary L. Landrieu (D-La..), chair of the U.S. Senate Committee on Small Business and Entrepreneurship, and George LeMieux (R-Fla.), in calling for the swift implementation of the SBLF and the State Small Business Credit Initiative, which also was created by theSmall Business Jobs Act.

In total, almost 900 community banks have applied for $11.6 billion in SBLF funding.

Please click here to see a complete list of the 37 community banks receiving funds.