Banks selected for Small Business Lending Fund
Three additional community banks in Iowa have been selected by the U.S. Treasury Department in the final funding round for the Small Business Lending Fund (SBLF), a $30 billion program designed to encourage community banks to increase their lending to small businesses. Heartland Financial USA Inc. in Dubuque will receive $81.7 million; Commercial Financial Corp. in Storm Lake will receive $18 million; and Liberty Financial Services Inc. in Sioux City will receive $7 million, according to a Treasury Department release. Earlier this month, Two Rivers Financial Group Inc., based in Burlington, received $23.2 million from the fund.