By Eli Okun
PBN Staff WriterVeterans Get Reduced Costs on Loans
TAUNTON – The South Eastern Economic Development Corp. is reducing costs on loans to U.S. veterans who served in active duty and were honorably discharged.
The reduced costs for SBA 504 loans, which can be used by small businesses to purchase machinery, equipment or real estate, and SEED loans are part of a national initiative led by the National Association of Development Companies to increase overall lending to veterans by five percent a year for the next five years.
For both types of loans, SEED will waive 0.5 percent of processing fees. SEED loans often provide a source of working capital for small businesses.