Most Active Stories
- New Analysis And Science Answer Governor Cuomo’s Fracking Concerns
- Anchor Stores Announced For Newburgh Shopping Complex
- BMC Nurses Picket Claiming Unsafe Staffing Levels
- Vermont GMO Supporters Decry Federal Bill Targeting State Level Legislation
- Conservation Group Praises USCG, EPA Oil-Spill Response Plan Effort
New England News
Mon January 14, 2013
Massachusett Treasury Program Helps Small Businesses Obtain Loans
Massachusetts State Treasurer Steve Grossman says more than 3200 small business loans have been leveraged by the money of state taxpayers he has deposited in community banks.
Fifty community banks are participating in the treasury’s Small Business Banking Partnership. The program, which Grossman launched almost two years ago deposits funds in amounts up to $10 million in local banks that agree to enhance their loan portfolios to credit worthy Massachusetts businesses.
Grossman said there is no risk to taxpayers because the deposits are protected either by insurance or with collateral.