Global Banking News-December 4, 2015--Lake Sunapee Bank announces redemption of remaining SBLF
is a USD30bn fund established under the Small Business Jobs Act of 2010 to encourage lending to small businesses by providing Tier-1 Capital to qualified community banks with assets of less than USD10bn.
WashingtonFirst Bankshares Inc (NASDAQ:WFBI) has paid off the remaining USD8.9m of preferred stock issued in connection with its participation in the Small Business Lending Fund (SBLF
) issued in 2011, it reported on Wednesday.
Citizens Community Bank (OTCQB: CZYB) (CCB) said it has redeemed 75 percent of the original investment of Series C preferred stock issued in July 2011 to the Secretary of the Treasury through the bank's participation in the Small Business Lending Fund (SBLF
The aggregate redemption price of the SBLF
Preferred Stock was approximately $49.1 million, including dividends accrued but unpaid to, but not including, the redemption date.
The USD30bn voluntary program, the SBLF
program was designed to encourage small business lending by providing capital to qualified community banks.
Institution-specific data on the change in small business lending to SBLF
recipients is available on a quarterly basis from the US Treasury.
was originally established with the passage of H.R.
is the successor to the Capital Purchase Program (CPP), which was part of the Troubled Asset Relief Program (TARP).
18, the Senate Committee on Small Business and Entrepreneurship held a hearing to examine the Small Business Lending Fund (SBLF
While we're on the topic of considering different lending opportunities, it seems fitting to also offer a summary of how the Small Business Lending Fund (SBLF
) has played out and some corollary guidelines for small business lending.
The legislators that introduced the bill are concerned that banks that participated in TARP will use SBLF
monies to refinance out of TARP rather than extend loans to small businesses.