Small Business Plus! Program

Through a unique collaboration between Montgomery County and community banks headquartered in the County, the Small Business Plus! Program was developed to promote job growth through small business lending and earn a competitive rate of return for the County on its investment. $50 million in County funds are invested in participating community banks -- which commit an equal amount of lending -- with the result that $100 million is lent to local small businesses to further promote the creation of new jobs. Banks are eligible to participate if they meet the following criteria: they must be headquartered in Montgomery County; must have assets greater than $200 million and no more than $10 billion; and meet certain safety and soundness standards established by the County. Under the program, a participating bank must originate the loans within 12 calendar months of the commitment by the County to make a program related deposit in that bank. All of the funds deposited will be covered by FDIC (Federal Deposit Insurance Corporation) insurance.