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Six community banks received a total of $123 million in the first round of loans from the Treasury Department’s Small Business Lending Fund, the department announced today. Earlier this year, Congress created the $30 billion fund as part of a bill aimed at creating additional jobs in the small business sector. The fund is available for community banks with assets of less than $10 billion. As banks make more business loans with the funds they borrow, the interest rate they pay is reduced.

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