Randolph Savings Bank Announces Loans From Massachusetts Small Business Banking Partnership

February 3, 2015

Randolph Savings Bank is proud to announce that it has been selected as a qualifying bank to partner with the State of Massachusetts Small Business Banking Partnership and through this program is offering $5,000,000 in small business loans to qualifying small businesses. Individual loan amounts will range from $10,000 up to $1,000,000 and will feature competitive interest rates.

The Small Business Banking Partnership was launched by former Massachusetts Treasurer Steven Grossman in 2011. The program invests state reserve funds into Massachusetts community banks to promote small business loans. Providing capital to creditworthy small businesses aids them in expanding and creating new jobs, building the local economy. Since its inception, the program has deposited $383,750,000 into 55 participating banks and has resulted in 10,125 loans.

“We’re proud to partner with the State of Massachusetts in this small business lending endeavor,” states Randolph Savings Bank President and CEO James McDonough. “Since its inception, this program has been responsible for loans to thousands of businesses – and we look forward to being able to make an impact on South Boston area businesses via this partnership.”

“Randolph Savings Bank believes strongly in supporting the area businesses that drive our local economy. We’re happy that the capital we lend to small businesses enables them to fulfill their business goals – to expand, to create new jobs, and to succeed,” says Martie Dwyer, Commercial Lending Senior Vice President.

For more information about small business loans, please contact a Randolph Savings Bank commercial lender at 877-963-2100. More information about the State of Massachusetts Small Business Banking Partnership can be found at Mass.gov.