RSB Poised To Enter Year Three As Small Business Banking Partner

January 5, 2017

Randolph Savings Bank is pleased to announce that in its third quarter of 2016, as part of the Massachusetts Small Business Banking Partnership, it has added a total of $1,171,056 of qualifying small business loans to its portfolio. This is the Bank’s second year as a qualifying bank partner with the State of Massachusetts Small Business Banking Partnership, and they recently renewed their partnership for a third year.

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 credit worthy small businesses aids them in expanding and creating new jobs, building the local economy. Through this partnership, Randolph Savings Bank 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.

Since October 2014, as a part of the Small Business Banking Partnership, Randolph Savings Bank has lent $3,519,693 to qualifying small businesses.

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.