Belmont Savings To 'Move Money' To Local Businesses

In an effort to jump start local business lending, the state has joined forces with Thursday in Massachusetts Treasurer Steven Grossman's 'Move Money' Small Business Banking Partnership.

The “Move Money” program places taxpayer dollars into local Massachusetts community banks, such as Belmont Savings, which will provide loans to business owners for fund growth and the creation of jobs.

Previously, these funds had been placed in large, out-of-state banks. Now, tax payer money will be refocused to help stimulate the local economy.

“We are proud to be a part of the Treasurer’s 'Move Money' initiative. It will enable us to help many small businesses in communities like the ones we serve in Belmont and Watertown to expand," said , president and CEO of Belmont Savings.

“As the fastest growing bank in Eastern Massachusetts, Belmont Savings has remained committed to fostering small business growth and this is an extension of those efforts.”

Belmont Savings Bank is a $500 million, full-service community mutual bank dedicated to quality, convenience and personalized service.