published Thursday, September 15th, 2011

Feds pad loan power of 5 banks

Five additional Tennessee community banks will receive $52.3 million in the next wave of funding through the Small Business Lending Fund.

The U.S. Department of Treasury said Wednesday that, in the region, Southern Heritage Bank of Cleveland will receive $5.1 million; CapitalMark Bank & Trust in Chattanooga will get $18.2 million and Sequatchie Valley Bancshares, Inc. in Dunlap will get $5 million in Treasury department investments in the banks to leverage more small-business loans.

As the banks provide more small-business loans, dividends paid by the banks on the government money declines.

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Mila78 said...

I have heard very good opinions about community banks. Big banks which call themselves “too big to fail” aren’t actually lending today, furthermore with each day their relationship with the consumers get worse. I think it’s time for alternative lending and banking institutions. They offer better lending conditions and are not so strict with their clients. Big banks think that they have a reputation and do not really care what a consumer will say about the service. It’s very good that Small Business Lending Fund provides assistance to financial organizations which are only in the beginning of their way. People need a variety of services they need to have a choice and community banks seem to be a decent alternative to traditional lending institutions. Milla from http://paydayloansat.com/payday-loans-no-credit-check/

January 10, 2013 at 6:13 a.m.
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