MA Small Business Banking Partnership
Funding for Small Businesses in MA
Since 2011, BankGloucester has been making loans to small businesses in Massachusetts through its involvement with the Small Business Banking Partnership, a program offered by the Commonwealth of Massachusetts Treasurer’s Office.
The Small Business Banking Partnership is an initiative designed to shift over $100 million in state deposits under the control of the Treasurer’s Office to qualifying Massachusetts banks to promote small business loans. The partnership aims to move money into smaller regional, community and local banks that have historically been at the forefront of providing capital to creditworthy small businesses to help them expand and create new jobs. When applying for a loan under this program, a small business does deals directly with a participating lending institution.
BankGloucester is pleased to have made over 120 loans totaling over $23 million dollars in the past five years. Loans have been made to borrowers in 21 different Massachusetts cities and towns including Gloucester, Rockport, Essex, Ipswich, Manchester, Danvers, Beverly, Lynn, Salem, Wenham, Saugus and Topsfield.
The Small Business Banking Partnership aligns perfectly with BankGloucester’s mission to serve the local community and foster growth and success.
For more information about BankGloucester’s participation in the Small Business Banking Partnership or to inquire about a small business loan, please contact the Commercial Loan Department at BankGloucester by calling (978) 283-8200 or stop by a branch a speaking directly with a representative.
Let us help you get started
Call 978-283-8200 now and ask for a Small Business Loan Specialist