Encore National Bank Awarded $5 Million
To Stimulate Small Business Lending
Fort Myers, FL - September 12, 2011 - Encore National Bank was awarded $5 million to stimulate small business lending and growth in our community. The Small Business Lending Fund (SBLF), created by the US Treasury Department, is awarded to select banks throughout the nation to foster lending to small businesses. Encore National Bank is one of the first in Southwest Florida to be selected to participate in the SBLF program.
“Encore National Bank is pleased to have been one of the community banks selected to participate in the Small Business Lending Fund, which will allow us to better serve small business owners who are looking to expand in the Southwest Florida area,” says Tom Ray, CEO of Encore National Bank.
Enacted into law as part of the Small Business Jobs Act of 2010 (the Jobs Act), the Small Business Lending Fund (SBLF) is a $30 billion fund that encourages lending to small businesses by awarding capital to qualified community banks. Through the Small Business Lending Fund, community banks and small businesses can work together to help create jobs and promote economic growth in local communities across the nation. For more details on the SBLF program, please visit, http://www.treasury.gov/resource-center/sb-programs/Pages/Small-Business-Lending-Fund.aspx.
“This program helps entrepreneurs in communities across the country access the capital they need to grow their operations, invest in new equipment, and hire additional workers,” said Deputy Secretary of the Treasury Neal S. Wolin.