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Bank Of Cape Cod Awarded $4M In Capital From Small Business Lending Fund

Aug 15, 2011 | Reprints | Unlock Link | Print

Bank of Cape Cod logo Hyannis’ Bank of Cape Cod has been awarded $4 million in capital from the Small Business Lending Fund (SBLF).

Enacted into law as part of the Small Business Jobs Act of 2010, the SBLF is a $30 billion fund that encourages lending to small businesses by providing capital to qualified community banks.

"Five years ago we founded Bank of Cape Cod to provide a local alternative to business owners seeking loans to expand and grow their businesses. This additional capital from the SBLF enables us to offer more loans to qualified businesses enabling them to grow and create new jobs in the region" said President and CEO Tim Telman.

He added: "Community banks continue to be the backbone of the American economy by lending to small businesses. We have liquidity, employ sensible underwriting standards, and are ready to lend – factors essential to keep our Cape Cod community strong."

Banking & Lending