Central Bancorp of Somerville and Leader Bancorp of Arlington, parent companies of Central Bank and Leader Bank, respectively, have received a total of approximately $22.9 million through the U.S. Treasury’s Small Business Lending Fund (SBLF).
Central Bancorp took $10 million, while Leader took slightly less than $12.9 million. With today’s announcement, six Massachusetts community banks have now received a total of roughly $40.9 million in SBLF funding, the Treasury said in a statement. Central and Leader have so far taken the most money from the Treasury of their Massachusetts peers
"These funds will provide a powerful incentive for community banks to expand their lending to small businesses, spurring new investment and job creation" said Deputy Secretary of the Treasury Neal S. Wolin. "Breaking down barriers to credit will provide critical support to Main Street entrepreneurs looking to invest in their local communities, grow their businesses, and put more Americans back to work."





