$1 Million Investors Fund Created For Downtown Businesses
March 6, 2020
Five banks and credit unions have come together to give seed money to the Brockton Venture Loan Fund. It is providing loans up to $50,000 to eligible businesses in the downtown area of Brockton, Massachusetts.
The contributing financial institutions include: HarborOne Bank, Eastern Bank, Crescent Credit Union, North Easton Savings Bank and Rockland Trust. The fund will have $1 million to distribute.
The [Brockton] Enterprise reports Elvera’s Cafe, established five years ago by Brockton resident Sandra Martin at 132 Main St., is the first recipient of a small business loan. James Blake, CEO of the Brockton-based HarborOne Bank, the largest state-chartered cooperative bank in New England, called the loan fund an “angel” fund, helping people with insufficient funding or credit to take a business they started at their home off the ground, and into a brick and mortar location in the downtown area. Read More