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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fauquier Bankshares Inc | NASDAQ:FBSS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 21.28 | 20.67 | 22.62 | 0 | 01:00:00 |
WARRENTON, Va., Feb. 9, 2021 /PRNewswire/ -- Fauquier Bankshares, Inc. (NASDAQ: FBSS) and its principal subsidiary, The Fauquier Bank, are pleased to announce the launch of the Banking on Diversity initiative, a minority business funding program to improve and develop local communities.
The Banking on Diversity program was created through a partnership of four community banks in the regions including Suburban Northern Virginia, Northern Shenandoah Valley of Virginia, the Eastern Panhandle of West Virginia, and Washington County, Maryland. These community banks understand the importance and benefit of having a diverse business community. In addition to The Fauquier Bank, sponsoring banks include BCT- The Community's Bank, Bank of Clarke County, and First Bank.
The banks have collectively committed up to $1 million in interest-free loans to aid both startup and existing minority-owned small businesses within the sponsoring community banks' markets. There are two loan programs: one for start-ups and one for existing businesses. The program is expected to include educational seminars to support the evolution of the business. Qualified businesses may receive only one loan.
Program Guidelines are as follows:
To qualify as a minority-owned business, the business must be 51 percent owned and operated by one or more minority individuals who are United States citizens or legal resident aliens – or – 51 percent equity ownership in a corporation, partnership, or LLC or other entity and is owned by one or more minority individuals who are United States citizens or legal resident aliens, and both the management and daily business operations are controlled by one or more minority individuals.
The Banking on Diversity program is open for application. Those interested may apply by visiting a bank partner's website or a local branch of their choosing. Though not required, it is encouraged for applicants to apply with a partner bank in their geographic region. The websites of the banks are as follows:
About The Fauquier Bank
Fauquier Bankshares, Inc. and its principal subsidiary, The Fauquier Bank, had combined assets of $867.2 million and total shareholders' equity of $72.5 million at December 31, 2020. The Fauquier Bank, is an independent community bank offering a full range of financial services, including internet banking, mobile banking, commercial, retail, insurance, wealth management, and financial planning services through eleven banking offices throughout Fauquier and Prince William counties in Virginia. Additional information is available at www.TFB.bank or by calling: (800) 638-3798.
View original content:http://www.prnewswire.com/news-releases/banking-on-diversity-minority-business-fund-launched-by-four-community-banks-in-virginia-and-west-virginia-301224948.html
SOURCE Fauquier Bankshares, Inc.
Copyright 2021 PR Newswire
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