Get Ready, Here Comes The Bank Of Massachusetts
Small businesses continue to struggle to nail down loans from lenders to do everything from restock shelves to embark on long-planned expansions.
One idea being mulled to help ease the financing crunch is for Massachusetts – yes the good old commonwealth – to start its own bank.
Before you ask what the folks on Beacon Hill have been drinking, Massachusetts would not be the first state do to this, with North Dakota having opened its own bank.
A state appointed commission, to include the head of the Small Business Association of New England, met earlier this month to begin exploring the idea.