WASHINGTON – Two Indiana community banks have received $41.4 million in funding from the U.S. Treasury Department’s Small Business Lending Fund. One of those banks is Horizon Bancorp in Michigan City, which received $12.5 million.
“These funds will provide a powerful incentive for community banks to expand their lending to small businesses, spurring new investment and job creation,” said Neal S. Wolin, deputy secretary.
The SBLF is one part of the Obama Administration’s comprehensive agenda to help small businesses access the capital they need to invest and hire. The program provides capital to community banks that hold less than $10 billion in assets.