Central Valley Community Bancorp in Fresno, Calif., has redeemed $7 million of preferred stock issued to the Treasury Department under the Small Business Lending Fund.

The $1 billion-asset Central Valley bought back all 7,000 shares of outstanding preferred stock issued to the Treasury in August 2011 at $1,000 a share, according to a Tuesday regulatory filing.

The SBLF, created as part of the Small Business Jobs Act of 2010, provides community banks with capital in order to spur lending to entrepreneurs. The Treasury had invested $3.9 billion in 281 banks as of June 30, 2013.

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