Colorado banks have boosted their small business lending by $79.4 million using capital received through the Small Business Lending Fund, the U.S. Department of the Treasury said today.
The Treasury Department said it has invested more than $4 billion in 332 institutions, located in more than 3,000 communities across 48 states, including Colorado.
Those banks in turn have generated $1.3 billion in additional lending in the fourth quarter of 2011 compared to the previous quarter, the report said.
“This report shows that the Small Business Lending Fund is having a powerful impact,” said Deputy Secretary of the Treasury Neal Wolin. “The program is helping spark new lending to local entrepreneurs looking to invest in their businesses and create new jobs.”
A copy of the report is available at
