BankFive to participate in Small Business Banking Partnership

FALL RIVER — For the ninth year, BankFive has been selected to participate in the Small Business Banking Partnership created by the Massachusetts State Treasury. The program initially launched in 2011 and has been extended until Dec. 31, 2019.

The Small Business Banking Partnership is an economic initiative that shifts state cash deposits under the control of the Treasurer to qualifying Massachusetts banks to expand their small business lending. The program promotes small business growth by providing creditworthy organizations with greater access to bank loans.

Through the successful partnership, BankFive has originated 30 small business loans totaling over $7.6 million. From those loans, 31 new jobs were created and more than 200 jobs retained. Loans have been originated for qualified borrowers through the SouthCoast, including, Fall River, Swansea, Rehoboth, Dartmouth, New Bedford, Berkley, Whitman, Chatham, Taunton and Mansfield.

For more information about BankFive’s participation in the Small Business Banking Partnership or to inquire about a small business loan, contact Paul Medeiros, senior vice president and senior lender, by calling 774-888-6130 or visiting one of the 13 full-service branches.