The U.S. Treasury has made its first investments in community banks through a program intended to encourage them to lend to small businesses. Six community banks received a total of $123 million under the program, the Treasury announced today. This is the first money from the Small Business Lending Fund that President Obama outlined 18 months ago in his 2010 State of the Union address. Congress passed the law creating the fund last September. The Treasury had originally expected to get the money out the door in the first quarter of this year. . . . keep reading
Tony DeCresie
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