LOUISVILLE, Ky.--(Business Wire)--Republic Bank & Trust Company (“Republic” or the “Bank”) announces the addition of Pedro Bryant as EVP, Managing Director of Community Lending. In the newly created role, Bryant will help economically challenged communities and small businesses grow through new programs, including a $3 million Community Loan Fund to support small businesses and promote business development and job creation in low-to-moderate income communities.
The Community Loan Fund is designed to serve a diverse group of businesses and focus on the operating needs in all industry segments. It will initially be focused in the Louisville metropolitan statistical area (“MSA”) and rolled out to all communities served by Republic. In order to increase the number of loans deployed, the Community Loan Fund will be available just to businesses seeking loans up to $50,000.
“We’re stepping forward to help meet the needs of members of our community who have struggled because of inequity and inadequate access to financial capital,” said Steve Trager, Chairman and CEO. “We’re excited to have Pedro lead initiatives that support small businesses owned and operated by the members of these communities. He adds deep banking leadership experience in community-focused services to our already strong executive team.”