Community banks receive fed funds for small business lending

The U.S. Department of the Treasury announced that five additional Wisconsin community banks received a total of $31.9 million as part of the final wave of funding provided through the Small Business Lending Fund (SBLF).
The SBLF, which was established as part of the Small Business Jobs Act that President Barack Obama signed into law as part of his economic stimulus plan, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs.
The Wisconsin community banks receiving funding as part of the announcement include:
Sword Financial Corporation (Horicon) – $17 million.
First Menasha Bancshares, Inc. (Neenah) – $10 million.
Forward Community Investments Inc. (Madison) – $470,000.
Wisconsin Women’s Business Initiative Corporation (Milwaukee) – $391,000.
Impact Seven Inc. (Almena) – $4.0 million.
Overall, 11 Wisconsin community banks have received a total of $100.1 million in SBLF funding.
“Billions of dollars in SBLF funds are now being put to use in communities all across the nation, spurring small business growth and job creation,” said Deputy Secretary of the Treasury Neal Wolin. “These investments, which will help propel lending by Main Street banks, are good for our economy and good for America’s small businesses.”