FOR IMMEDIATE RELEASE
ICBA Statement on Treasury’s Small Business Lending Fund Capital Allocations
Washington, D.C. (July 11, 2011)—Independent Community Bankers of America (ICBA) Chairman Sal Marranca, president and CEO of Cattaraugus County Bank in Little Valley, N.Y, issued this statement following the U.S. Treasury Department’s release of the first wave of capital from the ICBA-advocated Small Business Lending Fund (SBLF).
“ICBA is pleased that Treasury is deploying the SBLF capital to our interested community banks. Having this ICBA-backed program up and running will better ensure that Main Street community banks have a capital option so they can continue to support their towns’ small businesses, which put local residents to work, driving both the local and national economies. Our nation’s more than 7,000 community banks specialize in small business lending and are instrumental in providing the credit businesses need. The release of this first wave of capital will help get more credit flowing again in our communities so they can grow and create much-needed jobs.”
For more information, visit www.icba.org.