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A Taste of Roslindale Lead Sponsor:
All RVMS Business Members
Financing Resources for Small Businesses
Posted: July 1, 2009 at 7:27 pmARC (American Recovery Capital) Loans
U.S. Small Business Administration, Regional Office
10 Causeway St. Rm 265
Boston, MA 02222
617.565.5561
ARC loans are short term, interest-free loans intended to provide an immediate infusion of capital to small businesses to assist with making payments of principal and interest on existing debt. These loans allow borrowers to redirect cash flow from making loan payments to investing in their businesses, to help sustain the business and retain jobs. These loans are funded by the American Recovery Act of 2009 and will be available until September 2010 or funding runs out, whichever comes first.
ACCION USA
56 Roland Street, Suite 300
Boston, MA 02129
Phone: 617-625-7080
ACCION USA is a private, nonprofit organization that provides microloans and other financial services to low- and moderate-income entrepreneurs who are unable to access bank credit for small businesses.
Dorchester Bay Economic Development CDC (DBEDC)
594 Columbia Road
Boston, MA 02125
617-825-4200
DBEDC’s loan program promotes the expansion of small businesses, utilizing partnerships between community development corporations, banks and the US Small Business Administration.
Boston Local Development Corporation (BLDC)
One City Hall Square
Boston, MA 02201
Contact: William Nickerson, Senior Financing Manager
617-918-6262
BLDC is a private non-profit corporation administered by the Boston Redevelopment Authority. It provides loans of up to $150,000 for businesses in, or relocating to, the City of Boston.
Microloan Boston
Boston Office of Business Development
26 Court Street
Boston, MA 02108
Contact: Jovita Fontanez, Neighborhood Business Manager
617-635-0212
Microloan Boston is made possible by a partnership between the City’s Department of Neighborhood Development and Boston Connects Inc. It provides loans between $5,000 and $25,000 to support entrepreneurs and existing small businesses in Boston’s Empowerment Zone.
Partners with Nonprofits
Boston Office of Business Development
26 Court Street
Boston, MA 02108
Contact: John Lynch, Operations Specialist
617-635-0328
PNP provides matching grants up to a maximum of $25,000 per project per fiscal year for capital improvements to non-profit facilities located in Boston.
Community Economic Development Assistance Corporation (CEDAC)
One Center Plaza, Suite 350
Boston, MA 02108
617-727-5944
CEDAC is a public-private, community development finance institution that provides technical assistance, pre-development lending, and consulting services to non-profit organizations involved in housing development, workforce development, neighborhood economic development, and capital improvements to child care facilities.
Local Lenders:
The Cooperative Bank of Roslindale
40 Belgrade Avenue
Roslindale, MA 02131
617-325-2900
Luke Moran, Branch Manager
Tremont Credit Union
10 Corinth Street
Roslindale, MA 02131
781-843-5626 (call center)
Nichelle Hodges, Branch Manager
Citizens Bank
777 South Street
Roslindale, MA 02131
617-469-4440
Francis Guerrios, Branch Manager
Bank of America
29 Corinth Street
Roslindale, MA 02131
800-432-1000 (customer service)
Category: Work
Tags: business assistance, business loans, community development, economic development, financing