June 22 Deadline to Apply for SBLF
The deadline for your community development loan fund (CDLF) to apply for some of the $30 billion in the Small Business Lending Fund is approaching. Enacted as part of the Small Business Jobs Act of 2010, the Small Business Lending Fund encourages lending to small businesses by providing capital to qualified community banks and CDLFs with assets of less than $10 billion. A CDLF may apply to this fund for up to 5 percent of its total assets, as reported in its 2009 year-end audited financials.
To participate, your CDLF must submit the required application materials and a small business lending plan to the U.S. Treasury at CDLFApps@treasury.gov. The application deadline for CDLFs is June 22, 2011.