January 10 2019 • by Andrea Rodrigues • News
For the ninth year, BankFive has been selected to participate in the Small Business Banking Partnership created by the Massachusetts State Treasury. The program initially launched in 2011 and has been extended until December 31, 2019.
The Small Business Banking Partnership is an economic initiative that shifts state cash deposits under the control of the Treasurer to qualifying Massachusetts banks to expand their small business lending. The program promotes small business growth by providing creditworthy organizations with greater access to bank loans.
“I am delighted by BankFive’s continued participation in the Small Business Banking Partnership,” said Treasurer Deborah Goldberg. “Local small businesses depend on these loans to expand and create additional employment opportunities that are vital to economic growth in Massachusetts”.
Through the successful partnership, BankFive has originated 30 small business loans totaling over $7.6 million. From those loans, 31 new jobs were created and more than 200 jobs retained. Loans have been originated for qualified borrowers through the SouthCoast, including, Fall River, Swansea, Rehoboth, Dartmouth, New Bedford, Berkley, Whitman, Chatham, Taunton and Mansfield.
For more information about BankFive’s participation in the Small Business Banking Partnership or to inquire about a small business loan, please contact Paul Medeiros, Senior Vice President & Senior Lender by calling 774-888-6130 or visit one of our 13 full-service branches where one of our representatives will be happy to assist you.
Pictured (L-R) - Gary Fealy, First Vice President, Commercial Services, BankFive; Will Mendonca, Vice President, Commercial Services, BankFive; Alicia Ambrose, Vice President, Commercial Services, BankFive; Paul Medeiros, Senior Vice President & Senior Lender, BankFive; William Beauchene, First Vice President, Commercial Services, BankFive; Peter Murray, Vice President, Commercial Services, BankFive.