BankLocal boosting small businesses

BANKING LOCAL: Navigant Credit Union, its headquarters in Smithfield shown above, is one of two Rhode Island credit unions and eight banks participating in state General Treasurer Seth Magaziner’s BankLocal program – an initiative started two years ago to incentivize financial institutions to lend to local small businesses by matching those funds with state deposits./COURTESY/NAVIGANT CREDIT UNION
Hey mister, can you spare a few thousand dollars? The answer from local banks often is “yes,” under R.I. General Treasurer Seth Magaziner’s BankLocal initiative. A little more than two years into the program, the state has moved about $22 million in deposits into Rhode Island community banks and credit unions in exchange for them…

Subscriber-only Content

Subscribe to PBN today to read this article.
Get unlimited access for $1 for 4 weeks.

Subscribe for $1

Already a subscriber? Login now.

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -