Republic Bank Community Loan Fund

Republic Bank’s Community Loan Fund (CLF) has supported small businesses and promoted business development and job creation in low-to-moderate income communities across Republic Bank’s multi-state footprint since its inception in 2020.

“We’ve stepped 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, Executive Chair of Republic Bank.

The Fund began with $3 million dollars, with up to $50,000 available per business. Initially focused in the Greater Louisville metropolitan statistical area, CLF has since been rolled out in all retail markets served by Republic Bank, including Lexington, KY, Cincinnati OH/Northern Kentucky, Nashville, TN, and Tampa/St. Petersburg, FL.

Shortly after Republic Bank launched the CLF, government programs extended safety nets to some businesses. But as these public programs waned, Republic’s CLF quickly ramped up funding to businesses, increasing the maximum size of a loan from $50,000 to $100,000 and doubling the total number of clients and funds lent in the first 6 months of 2022.

In addition to increasing the per-business availability of loans, at the beginning of 2023 Republic Bank increased the Community Loan Fund by another $3 million as the number of clients seeking loans exceeded original plans.

CLF has continued to gain momentum into 2023. To date, the Fund has distributed over $3.4 million to more than 75 companies across a wide range of industries including healthcare, retail, restaurants, real estate, insurance, trucking, contracting and more.