Get below market fixed rates for small business loans.
SCU Credit Union offers assistance to Local Business through the Federal Home Loan Bank (FHLB) of Boston, which provides loans to small businesses at below market fixed rates.
This special program, called Jobs for New England, offers below market fixed rate financing for small business loans that create or preserve jobs, expand woman-owned, minority-owned, or veteran-owned businesses, or otherwise stimulates the economy in our community.
- Improve, diversify, or stabilize the economy of our local community
- Stimulate other business development
- Revitalize a business district or community with a written revitalization plan
- Expand a small business majority-owned and controlled by women, veterans, minorities, or person(s) with a disability
- Modernize or upgrade facilities to meet health, safety, and environmental requirements?
Job Creation + Retention
- Create at least one job for every $25,000 of program funds disbursed
- Demonstrate that jobs would be lost in the community if the loan was not made