SBA Micro Loans Provide Working Capital for Growing Businesses

FOR IMMEDIATE RELEASE

29 June 2007
Tamarah Barao
508-822-1020

South Eastern Economic Development (SEED) Corporation announced that it made loans to two local businesses in Plymouth and Stoughton under the SBA Micro Loan Program and the Revolving Loan Fund.  SEED provided $35,000 to Weed and Feed Professional Services, Inc. in Plymouth and $35,000 to Hannaford Plumbing, Heating & Air Conditioning, Inc. in Stoughton.  The funds were used for working capital. 

Weed & Feed Professional Services, Inc. is located at 8 Meadow Park Road in Plymouth, and offers commercial, industrial, and sports turf fertilization and pest control services.  Hannaford Plumbing, Heating & Air Conditioning, Inc. is located in Stoughton, and offers plumbing, heating and air conditioning services for new construction, remodels and repairs for commercial and residential buildings.

“We are very pleased to have been able to assist these small businesses.  SEED’s role is to assist small businesses to start-up, expand and create jobs in the region,” stated Maria Gooch-Smith, Executive Director for SEED Corporation.  

Weed and Feed Professional Services was established by Bob Mann and is equipped to handle turf areas ranging from 90,000 square feet to 300,000 square feet as well as golf courses and sports fields.  Bob received his A.S. in Turf Management from the Stockbridge School of Agriculture and a B.S. in Agricultural and Resource Economics from UMass Amherst.  Bob stated “working with SEED was a wonderful experience.  The process was made as easy as possible and the entire staff is not only professional, but very accommodating and friendly.  I’d recommend them to anyone”. 

Hannaford Plumbing, Heating & Air Conditioning was established by Charles and Ligaya Hannaford and is a small, full-service company dedicated to providing quality service to all of their commercial and residential customers.  The company covers Boston and communities south and east of the city.  Chuck brings ten years of experience in the plumbing, heating and air conditioning field.  “SEED Corporation was a great avenue for me to obtain the financing I needed to keep my company running smoothly.  Their support of me and my business is deeply appreciated” stated Chuck. 

The Micro Loan Program provides loans up to $35,000 which can be used for working capital, leasehold improvements, machinery and equipment, and furniture and fixtures.  Loans are made for a term of up to six years at a 7.5% fixed interest rate.

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