Berea small business lending to get a federal boost

The U.S. Treasury Department announced Wednesday that Berea's Federation of Appalachian Housing Enterprises will receive $2.1 million in federal funds to help it bolster lending to small businesses.

The money comes from the federal Small Business Lending Fund, which allows banks to pay a reduced dividend rate on as they increase lending to small businesses, according to a news release. Overall, four Kentucky community banks have received $14.9 million in SBLF funding since the inception of the program.