Small Business Loans at Below Market Rates
Dedham Savings is participating in a special program offered through the Federal Home Loan Bank (FHLB) of Boston, which provides loans to small businesses at below market fixed rates.
This special program, called Jobs for New England, offers below market fixed rate financing for small business loans that create or preserve jobs, expand woman-owned, minority-owned, or veteran-owned businesses, or otherwise stimulates the economy in New England communities.
Under the Jobs for New England program, borrowers must qualify as a small business as defined by the Small Business Act (15 USC 632(a)). Additionally, loans under this program must meet job creation or economic development requirements.
LOAN PROCEEDS CAN BE USED TO:
- Add new jobs
- Save existing jobs
- Expand a minority, woman or veteran owned business
- Modernize or upgrade a business’s facility to meet health, safety, or environmental requirements
- Improve, diversify, or stablilize the economy of a community
- Stimulate other business developments
To find out if your small business qualifies for this special program, and for additional program details and restrictions, contact a member of our Business Lending Team.