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Financing Business Expansion Through The South Shore Economic Development Corporation Cohasset Village Greenery Kennedy Carpet Cleaners.

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Presentation on theme: "Financing Business Expansion Through The South Shore Economic Development Corporation Cohasset Village Greenery Kennedy Carpet Cleaners."— Presentation transcript:

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2 Financing Business Expansion Through The South Shore Economic Development Corporation Cohasset Village Greenery Kennedy Carpet Cleaners

3 South Shore Economic Development Corporation Michael Duff Executive Director 617-479-7066 The Village Greenery, Cohasset, MA $168,000 SBA project Leonard, Mulherin & Green, Braintree, MA $400,000 SBA Project

4 With 504 loan everybody wins... SSEDC works with local private sector lenders SSEDC covers the areas of Norfolk and Plymouth Counties We help eligible businesses to purchase long-term, fixed assets Kennedy Carpet Cleaners, Weymouth, MA $420,000 SBA Project

5 The Community... The 504 program’s goal is to stimulate the local economy We do this by creating jobs, encouraging commerce and broadening the community’s tax base List location or contact for specification (or other related documents) here FOR MORE INFO... Leonard, Mulherin & Green Located at: 635 Grove Street, Braintree

6 The Lender... By using the 504 program, lenders reduce their risk by financing a smaller portion of the project. Maintain a first lien position Participating in the program enables lenders to make up to a $2.5 million dollar loan This program gives the lender an opportunity to comply with the Community Reinvestment Act.

7 The Borrower... Gives small businesses access to the same low-cost, fixed rate, long term financing that large business have through the bond market. In most cases, only 10% is required as a down payment List location or contact for competitive analysis (or other related documents) here FOR MORE INFO... Located at: 221 Libbey Parkway, Weymouth

8 SSEDC More than $60 million has been loaned to enable small businesses to grow and prosper Over 3,000 jobs have been created in our region Up to 95% financing available Improved collateral coverage for the bank. The Village Greenery Located at: 805 Chief Justice Cushing Highway, Cohasset

9 For More Information... Please contact Michael Duff, Executive Director at (617)479-7066 Fax an information request to (617) 786- 1538 Email us at kgomer@dreamcom.net 500 Congress Street Quincy, MA Nankin Dental Associates


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