Republic Bank & Trust Company added Pedro Bryant as EVP and 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, KY, 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,” Steve Trager, chairman and CEO of Republic, said. “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.”
Bryant was previously CEO and president of Metro Bank in Louisville. He has also served in leadership roles at other banks throughout the South.
“Since 1982, Republic Bank has played a leading role in the growth of this community,” Bryant said. “I want to contribute to this tradition of putting customers first to ensure it continues for years to come.”
In addition to forming the new community loan fund, Bryant will be providing executive oversight of Republic’s Small Business Administration lending division, which is managed by Kathy Pleasant, a vice president at Republic. The bank’s participation in the SBA’s Paycheck Protection Program (PPP) has already provided more than $520 million in total support to more than 3,700 small businesses in the communities it serves.
