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Senator Moore Boosting Small Businesses

Saturday, July 14, 2012

 

Senator Michael Moore is giving area small businesses a hand by building a bridge to private sources of capital, beginning with the Blackstone Valley Chamber of Commerce.

He plans to move his project to Worcester businesses soon to benefit the area’s development and extend lines of credit to small businesses to expand and make jobs.

“The lifeblood of our financial strength and stability remains small businesses,” Senator Moore said. “By giving small business owners the ability to increase their workforce and broaden their consumer base, we’re creating much-needed jobs that didn’t exist before.

Moore, former Chairman of the Legislature’s Committee on Community Development and Small Business, will be building a partnership between the chamber and their partner, the Central Massachusetts Center for Business and Enterprise, and the Massachusetts Growth Capital Corporation, among others.

“It’s critical that we think outside the box in finding lending partners for small businesses, particularly at a time when state resources are limited,” Moore said.

The Central Massachusetts Center for Business and Enterprise is a non-profit entity within the Blackstone Valley Chamber of Commerce dedicated to finding alternative funding sources for business development and expansion.

Senator Moore with Tim Lewis of Boston Bumpers, one business he has helped to stabilize.

With Moore’s new system, the targeted borrower will be new or emerging businesses that have been unable to obtain financing from traditional lending sources.

The senator will be pairing these small businesses in need with prospective partners including, Clark University’s Small Business Development Corporation and Graduate School, Massachusetts Growth Capital Corporation, The Small Business Administration, MassDevelopment, Massachusetts Office of Business Development, local Community Development Corporations and many other state and federal departments and agencies.

Senator Moore worked with the Blackstone Valley Chamber of Commerce and one of their most valuable partners to lower loan amounts and ease restrictions on businesses with less than fifty employees.

 “Without question Senator Mike Moore has been instrumental in making small business loans more readily available. Much of the progress we’ve made would not have been possible without Senator Moore’s intervention,” said Jeannie Hebert, CEO of the Blackstone Valley Chamber.

Hebert and the chamber have been a state leader in their alternative lending program, working with a wide array of public and private partners to review and implement small business growth strategies.

“At a time when gap funding is exceptionally difficult to secure, Ms. Hebert has continually achieved small business growth using every possible avenue,” Moore said.

 

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