New Capital For Community Banks - Is The Small Business Lending Fund Right For You?

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On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (Act), which, among other things, created the Small Business Lending Fund Program (Program) to facilitate up to a $30 billion capital investment in community banks. This article is intended to briefly describe the eligibility criteria, the application process, and a bank's obligations if it wants to participate in the Program.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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