FOR IMMEDIATE RELEASE
Taunton, Massachusetts– June 13, 2012 – South Eastern Economic Development (SEED) Corporation announced today that it has received $50,000 from the Rockland Trust Community Development Corporation to provide financial counseling to small businesses in Massachusetts and Rhode Island. The bank’s support will enable SEED to continue to provide financial counseling targeted to low-income community businesses and residents through group and one-on-one workshops and sessions.
In presenting the $50,000 check to SEED, Rockland Trust Executive Vice President and Director of Commercial Banking Gerry Nadeau said, “we are committed to strengthening the communities in which we work and live. We are proud of our continued support to SEED in their efforts to help local businesses succeed and create new jobs in our communities.”
The funding was provided through $50 million in tax credits awarded to Rockland Trust by the federal government’s New Markets Tax Credit program. The New Markets Tax Credit Program was enacted in December 2000 and is designed to foster job creation and stimulate economic growth in low-income communities across America. Rockland Trust has received four such awards from the program totaling $191 million to date.
“We are grateful to Rockland Trust for their continued support,” said Maria Gooch-Smith, SEED’s Executive Director. “In this troubling economic climate as other funding sources are drying up, Rockland Trust continues to make substantial investments to fund technical assistance for small businesses, which enables them to continue operating and creating new jobs.”
About SEED Corporation
The South Eastern Economic Development (SEED) Corporation is a non-profit corporation certified by the United States Small Business Administration (SBA) to administer several SBA financing programs. SEED makes loans from $1,000 under the SBA Micro Loan Program to $5 million under the SBA 504 Program. SEED was set up in 1982 to improve the economy of southeastern Massachusetts by helping small businesses get started, grow and create jobs. Today, SEED covers all of MA and RI. For more information about SEED’s business assistance and loan programs, please visit www.seedcorp.com.
About Rockland Trust
Rockland Trust Company is a full-service commercial bank headquartered in Massachusetts, with approximately $5 billion in assets. The sole bank subsidiary of Independent Bank Corp., (NASDAQ:INDB) Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services. Rockland Trust’s network consists of 67 retail branches, nine commercial lending centers, three Investment Management Group offices, and four residential lending centers located throughout Eastern Massachusetts, and one commercial lending center and investment management office in Rhode Island. To find out why Rockland Trust is the bank “Where Each Relationship Matters®”, please visit www.RocklandTrust.com.
# # #