Meadows Bank, a community bank focused on Small Business Administration and United States Department of Agriculture loans, has sold its second SBA 504 loan pool under the SBA First Mortgage Loan Pooling Program totaling more than $4.1 million to three businesses.

The SBA First Mortgage Loan Pooling Program provides fixed-rate financing to small businesses to acquire growth and assets, in an effort to promote economic growth within a community.

Meadows Bank is an approved pool originator, and its first mortgage loan covers about 50 percent of the assets for the small business. The Small Business Administration provides a fixed-rate second mortgage loan which covers about 40 percent of the assets. The small business owner must provide the remaining 10 percent.

Calvin Regan, Senior Vice President and Manager of the SBA Department, said that Meadows Bank is an example of how working with such an aggressive community bank has helped execute the SBA lending program, which is designed to stimulate small business growth and employment, and aid in the economic recovery. The program is set to run through September 2011.

"The growth of small business is critical to the country's economic recovery," said Regan. "I urge Congress to act and approve the extension of the SBA program stimulus provisions. This is not the time to let partisan politics get in the way of helping America's small businesses."

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