Small Business Lending Fund Announced
Special Opportunity for Small Business Financing
The U.S. Treasury Department has created a program called the Small Business Lending Fund (SBLF) that is a dedicated investment fund that encourages lending to small businesses. The Treasury Department has asked us to help spread the word about the existence of this program. They are very anxious to help qualified businesses grow through additional financing.
AmeriServ® is the designated bank in our region for this program and the contact person is Denise Quinn. In talking with Denise, she wanted to emphasize that this is not a SBA-type loan, but rather a loan specifically with AmeriServ. The bank will look at all of the normal issues involved in providing a loan and will determine an appropriate rate of interest, though we are told that AmeriServ is taking a very aggressive approach to getting these funds to qualified businesses.
Qualifying is very easy. Applicants must be a for-profit business. Funds can be used for new money, refinancing of equipment loans, lines of credit, or real estate loans. The only item disqualified is investment real estate. If you would like additional information please contact: Denise Quinn, direct at 814.533.5442; or through email at dquinn@ameriserv.com.