NBSB Participates in FHLBB Jobs for New England Program
NBSB helps qualifying small businesses to obtain low-interest, below market financing through JNE
North Brookfield Saving Bank is participating in the Federal Home Loan Bank of Boston’s (FHLBB) Jobs for New England (JNE) program, which allows The NBSB Business Center to offer below market-rate, low-interest financing for small business loans that create or preserve jobs, expand woman-owned, minority-owned, or veteran-owned businesses, or otherwise stimulate the local economy.
“The FHLBB Jobs for New England program is such a valuable tool for our small businesses and allows North Brookfield Savings Bank the opportunity to provide our small business customers with even lower interest financing so they can borrow for less and grow their business,” said Rick Egan, Vice President, Senior Commercial Lender. “This further supports our goal to support small businesses and the local economy that we serve.”
As a member of the FHLBB, North Brookfield Savings Bank can offer members extremely low percentage financing for small business loans that meet certain criteria set by the FHLBB. The small business loan funds must be utilized to create or preserve jobs, expand woman-owned, minority-owned or veteran-owned businesses or support the local economy in another quantifiable way. The program includes two funding periods with the first application period beginning January 13, 2020 and the second period beginning on April 29, 2020.
Recently, North Brookfield Savings Bank partnered with Jessica Bettencourt, President and owner of the well-known Klem’s department store located on Route 9 in Spencer, MA. Jessica has a vision for her family’s business and when she approached North Brookfield Savings Bank to share her expansion goals for the Klem’s building she was recommended a financing option that provided the most value to her business. Due to NBSB being a FHLBB member and Jessica’s goals to expand a women-owned business, she was able to take advantage of the Jobs for New England program. NBSB’s guidance allowed Jessica to benefit from the program and see the expansion goals become a reality.
“When I visited North Brookfield Savings Bank to discuss my expansion goals for Klem’s I was not aware of this program as a financing option for me,” said Jessica Bettencourt, President and owner Klem’s. “Because of their knowledge of the program, and their genuine attention to my vision, I was able to see the expansion goals become reality and save considerable funds that I could refocus back into the success of my business.”
North Brookfield Savings Bank’s has an experienced and knowledgeable Business Center Team comprised of Business Lenders and professionals who are ready to help businesses reach their financial goals. If you are interested in learning more about the FHLBB Jobs for New England program please contact The North Brookfield Savings Bank Business Center at 508-867-0710 or contact a Business Lender directly.