01/20/2022
PeoplesBank has presented Common Capital, Inc. with a $50,000 grant to expand its loan fund, which provides access to capital for small businesses unable to access traditional lending sources in Western MA. Jim Sherbo, Senior Vice-President at PeopleBank stated “We see a lot of synergy between PeoplesBank and Common Capital, Inc. PeoplesBank is the largest community bank headquartered in Hampden County, and Common Capital is the largest community lender in the region. It’s a relationship we are excited to support and build on in the future.”
The contribution will be used to enhance Common Capital, Inc’s loan funds which was recently recognized as the #1 SBA Microlender in the Commonwealth of Massachusetts.
The funds will provide unbankable businesses with capital and technical assistance needed to achieve bankability and access capital through traditional sources like PeoplesBank.
Raymond Lanza-Weil, Common Capital’s President, said, “The partnership with PeoplesBank will enable Common Capital, Inc. to provide additional capital and technical assistance to the local small businesses community. Partnerships like the one with PeoplesBank, allow us to increase our impact on the local business community.”
Common Capital, a nonprofit community loan fund based in Springfield, provides loans and technical assistance to small businesses in the four counties of Western Massachusetts that are unable to obtain a loan from a bank or other conventional source. Any small business in Western Massachusetts that needs help accessing capital can reach out to Common Capital at (413) 233-1680 or at commoncapitalma.org