Select Bancorp (‘Select’) the holding company for Select Bank & Trust Company has received $7,645,000 of SBLF fund capital from the US Department of Treasury. The small business lending fund (SBLF) is a voluntary program that is meant to encourage lending to small businesses. ‘Select’ is one of North Carolina’s financial institutions and it is the first to receive loans.
The types of small business loans that are targeted by SBLF program represent a significant portion of Select’s loan portfolio. Select’s President Mark A. Holmes says that it is proud of its seven year history of small business lending and is going to use a common sense approach to banking. This is meant to support Select’s local business community throughout tough economic times.
Select Bank & Trust is a community bank that is headquartered in Greenville, NC and serves Greenville/Pitt County from its office at 3600 Charles Boulevard.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com