Meadows Bank increases lending to small businesses

Meadows Bank has increased its small-business lending by $45.9 million since it received capital through the Small Business Lending Fund, the U.S. Department of Treasury reported Tuesday.

Las Vegas-based Meadows Bank received $8.5 million in Small Business Lending Fund money in October. The
$30 billion fund was included in the Small Business Jobs Act of 2010 to encourage lending to small businesses by providing capital to qualified community banks with assets less of than $10 billion.

The Treasury Department invested more than $4 billion in 332 financial institutions in 48 states through the Small Business Lending Fund.