Magaziner expands state lending incentives to include veteran-owned businesses

RHODE ISLAND’S BankLocal program, which provides incentives to community banks and credit unions to lend to small businesses, is being expanded to cover small businesses owned by military veterans – a move applauded by advocates such as Kasim Yarn, above, the state’s director of veteran affairs. / PBN FILE PHOTO/MICHAEL SALERNO
PROVIDENCE – The state’s BankLocal program, which incentivizes community banks and credit unions to lend to designated types of small businesses, is being expanded to include small businesses owned by military veterans. Under the BankLocal program, the state opens accounts with small banks and lenders and deposits state funds into those accounts equal to the…

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