Banks share $2.6 million in funds

WASHINGTON -- The U.S. Department of the Treasury has announced that the State Bank of Bartley, Nebraska, and an additional Nebraska community bank received a total of $2.6 million as part of the final wave of funding provided through the Small Business Lending Fund.

The State Bank of Bartley received $2.4 million, and the Nebraska Enterprise Fund of Oakland received $197,000

The SBLF, which was established as part of the Small Business Jobs Act that President Obama signed into law, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs.

Overall, including today's announcement, five Nebraska community banks received a total of $38.9 million in SBLF funding.

They join the three Nebraska banks which have already received SBLF funding: Lincoln-based First State Bank, Ogallala-based Adams Bank & Trust, and Harrisburg-based Banner County Bank.

"This is a direct investment in Nebraska's small businesses and job creation -- especially in our rural communities," Sen. Ben Nelson said. "These community banks will take a relatively small investment from the federal government and leverage it into much more capital they then lend to small businesses, which will create jobs and help get the American economy back on track."

"America's economic recovery will be driven by Main Street businesses across our country. The Small Business Lending Fund is an excellent example of how the federal government is partnering with private banks to create jobs at private companies," Nelson said. "Plus, because the federal government is providing loans that the banks will pay back, the SBLF will create revenue. It was a wise investment."