Coastal Community Capital Announces Loan Program to Help Aquacultural Small Businesses Recover from Winter Storm Damage

Centerville, MA: Coastal Community Capital announced today that low-interest loans are now available to shellfish businesses along the Massachusetts coast that were negatively impacted by the severe winter weather.

“At the request of small business owners, Coastal Community Capital evaluated the impact that the 2015 winter season had on small businesses state-wide and determined that support is warranted,” said Jeannine Marshall, President of Coastal Community Capital, a non-profit community development lender. “This support makes loans available to aquacultural small businesses in Massachusetts that suffered economic injury as a direct result of the impact last winter had on the industry.”

The loans are available to aquacultural small businesses that need to replace gear, seed or other business assets as part of the storm damage recovery process. Eligible small businesses may qualify for loans up to $25,000, with an interest rate fixed at 4 percent and terms extending up to five years. This program covers Massachusetts coastal areas.

Interested small business owners are urged to contact Coastal Community Capital at 508-362-3755. For more information, visit CoastalCommunityCapital.org.

Coastal Community Capital is a non-profit community development lender providing capital statewide. Coastal has access to an array of funding sources, including SBA 504 and 7A loans, loan guarantees, and direct lending. Coastal is certified by the U.S. Department of the Treasury as a Community Development Financial Institution and by the U.S. Small Business Administration as a Certified Development Corporation. This institution is an equal opportunity provider and employer. Prices, terms and conditions subject to change without notice on all loan products.