Left to right: Ferd Kelley, Chair, SEED Corp.; Maria Gooch-Smith, Executive Director, SEED Corp.; Gerard Nadeau, Executive Vice President, Commercial Banking, Rockland Trust
TAUNTON, Mass. – The South Eastern Economic Development (SEED) Corporation today announced 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 entrepreneurial workshops and sessions.
“We are committed to strengthening the communities in which we work and live,” said Gerry Nadeau, Executive Vice President and Director of Commercial Banking at Rockland Trust, when presenting the $50,000 check to SEED. “We are proud of our continued support of SEED in its efforts to help local businesses succeed and create new jobs in our communities, particularly those challenged by higher unemployment rates.”
Rockland Trust provided the funding through its $66 million tax credits award from 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 very grateful to Rockland Trust,” said Maria Gooch-Smith, SEED’s Executive Director. “Small businesses create most of the new jobs in our economy, and Rockland Trust’s continued support of SEED’s technical assistance to small business 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 is also a Community Development Financial Institution under the U.S. Department of the Treasury. 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
With $5.9 billion in assets, Rockland Trust is a full-service commercial bank headquartered in Massachusetts which provides a wide range of consumer, business, investment, and insurance products and services. Named one of America’s “Best Banks” by Forbes for three consecutive years and to the Boston Globe’s “Globe 100” listof top-performing companies for the eighth consecutive year, Rockland Trust’s network consists of nearly 75 retail branches, 11 commercial lending offices, five investment management, and three residential lending centers throughout Eastern Massachusetts and Rhode Island. To find out why Rockland Trust is the bank “Where Each Relationship Matters®”, please visit www.RocklandTrust.com. Member FDIC. Equal Housing Lender.