In Brief: Carver Federal Offers SBA Lending Services

Carver Federal Savings Bank last month opened a Small Business Administration lending unit.

The bank is targeting start-ups and businesses with average annual sales of $5 million or less within 50 miles of its headquarters in Harlem, according to the institution.

"Carver Federal's small-business lending will benefit the surrounding communities by enabling more businesses to enter the area and existing businesses to expand," said chief executive Thomas L. Clark Jr. in a news release. "At the same time, Carver Federal augments its lending base, increasing the bank's profit margins, thus improving shareholder value."

Domingo De Pina, hired as Carver's small-business development officer, will oversee the program. Previously, he worked 25 years at the SBA.