[May 13, 2022]  U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding SEED a $3 million grant to capitalize and administer a revolving loan fund. This grant is funded by the American Rescue Plan.

This grant will be used to provide gap financing to small, local businesses in Barnstable, Bristol, Dukes, Essex, Nantucket, Norfolk, Plymouth and Suffolk counties as they recover, grow, and create new employment opportunities. This EDA grant will be matched with $750,000 in local funds and is expected to create 100 jobs, retain 150 jobs, and generate $7.5 million in private investment, according to grantee estimates.

“President Biden is committed to providing local businesses with the resources they need to recover from the economic impact of the coronavirus pandemic,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will provide needed capital to small businesses and entrepreneurs in Eastern Massachusetts, creating a stronger, more robust regional economy.”

“Economic Development Administration investments play an important role in advancing locally-led economic development strategies that drive critical workforce and business expansion efforts to create stronger, more resilient regional economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “SEED’s new Revolving Loan Fund will provide the capital that small businesses and entrepreneurs need to growth and thrive.”

“Thanks to this grant, more small businesses in Massachusetts will have flexibility and support to grow storefronts and help revitalize our main streets and downtowns,” said Governor Charlie Baker. “Congratulations to SEED for receiving this award and thank you to the Economic Development Administration for their continued partnership as we work together toward a full economic recovery.”

“Small businesses are the backbone of the Commonwealth’s economy, but they’ve been hit hard by the pandemic,” said Senator Elizabeth Warren. “This $3 million grant from the EDA, along with $750,000 in local funds, will help small businesses and the communities they serve across Southeastern Massachusetts build back by investing in existing jobs and creating new jobs, while generating millions in private investment.”

“Small businesses are the engine that drive our economic growth and create critical jobs across the Commonwealth,” said Senator Ed Markey. “This multi-million dollar federal grant with Taunton’s South Eastern Economic Development Corporation will have a tremendous impact throughout Eastern Massachusetts in building a stronger small business community.”

This project was made possible by the regional planning efforts led by the Southeastern Regional Planning & Economic Development District (SRPEDD). EDA funds SRPEDD to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs. This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance Program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
 

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Congratulations Little Learners Academy! Rhode Island & New England Woman-Owned Small Business of the Year

[April 30, 2024] SEED is proud to congratulate our clients Charlene Barbieri and Kendra Tanguay, owners of Little Learners Academy as the 2024 Rhode Island and New England Woman-Owned Small Business of the Year!

Read more: Congratulations Little Learners Academy! Rhode Island & New England Woman-Owned Small Business of...

SEED Awarded $4.5 million from RI Commerce Corporation through State Small Business Credit Initiative 

[August 3, 2023] South Eastern Economic Development (SEED) Corporation has been awarded a $4.5 million loan from RI Commerce Corporation under the State Small Business Credit Initiative (SSBCI). Funding for this program was made available through the reauthorization and amendment of the Small Business Jobs Act of 2010 (SBJA) by the American Rescue Plan Act (ARPA) of 2021 in order to provide $10 billion to fund the SSBCI as a response to the economic effects of the COVID-19 pandemic. This is a federal program administered by the Department of the Treasury that was created to strengthen state programs that support private financing to small businesses. 

Read more: SEED Awarded $4.5 million from RI Commerce Corporation through State Small Business Credit...

Healey-Driscoll Administration Announces $78 Million for New Grant Programs to Support Massachusetts Small Businesses 

[April 6, 2022]  The Inclusive Recovery Grant Program will provide up to $75 million in funding through grants of up to $75,000 for businesses owned by people of color, women, veterans, immigrants, individuals with disabilities, or those who identify as part of the LGBTQ+ community; businesses that focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups; and other underserved markets.

Read more: Healey-Driscoll Administration Announces $78 Million for New Grant Programs to Support...

SEED Honors 2022 Award Recipients at 40th Annual Meeting 

[December 8, 2022]  SEED's 40th Annual Meeting was held on December 8th at White's of Westport and included the presentation of the 2022 Business of the Year, Start-Up Business of the Year, and Regional Business Advocate of the Year. Click the link to see the winners! 

Read more: SEED Honors 2022 Award Recipients at 40th Annual Meeting

SEED Makes 68 Small Business Loans Totaling $17.8 million in 2022

[November 30, 2022]  In 2022, the South Eastern Economic Development (SEED) Corporation made 68 small business loans totaling $17.8 million and assisted in the creation of 398 new jobs. These loans were either made in participation with the region’s financial institutions to meet a financing gap, or as direct loans to small businesses not able to obtain conventional financing.

Read more: SEED Makes 68 Small Business Loans Totaling $17.8 million in 2022

South Eastern Ecomonic Development Corporation home page

80 Dean Street,
Taunton, MA 02780

1-508-822-1020

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Friday 8am-4pm

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SEED Corporation is a certified lender in Massachusetts and Rhode Island.

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SEED Corporation is an equal opportunity lender and business assistance partner.