TAUNTON – The South Eastern Economic Development Corp. has announced it has joined in the Veterans Pledge Initiative that offers reduced costs on loans.
Military veterans who have served on active duty and been honorably discharged can get a reduction on the .5 percent of the processing fee for SEED loans, as well SBA 504 loans, which are for small businesses to purchase real estate or machinery and equipment.
The Veterans Pledge Initiative is commitment by SBA lenders to increase lending activity to veterans by 5 percent for the next five years.
SEED offers loans ranging from $1,000 under its micro-loan program up to $200,000 under its revolving loan fund, which can be used for working capital.
Veterans in Rhode Island and Massachusetts can contact seed at 508-822-1010 or get information on the Veterans Initiative at www.seedcorp.com