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.
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