Business
Dorchester Bay Small Business Assistance Program
Since 1992, Dorchester Bay has been committed to providing assistance to local entrepreneurs. The Dorchester Bay Small Business Assistance Program provides:
- One-on-one technical assistance and support for microentrepreneurs and small business owners
- Assistance in obtaining loans
- Referrals to other service providers that provide complimentary services, such as workshops, training programs, and pro bono legal services
DBEDC provides substantial pre-loan and post-loan assistance to participating businesses. Technical assistance offered on an individual basis includes developing sound business plans, accurate record-keeping, financial management, improving the efficiency of the day-to-day operations, finding new markets, expanding sales, and securing appropriate financing.
Direct lending
The Dorchester Bay Neighborhood Loan Fund (DBNLF) is a community loan fund founded in 1995 to provide financial stimulus and sustain the development of microenterprises and small businesses in inner city Boston.
- Competitive interest rates – currently 8.375% for loans of $10,000 or more, 9.125% for smaller loans, with a 0.5% discount for businesses based in Dorchester or owned by a Dorchester resident.
- Loans from $1,000 to $50,000
- Loan terms for as long as six years
- Equipment, inventory, machinery and working capital financing
Partnerships
Our Capital Investors include religious orders, Calvert Investment Fund, SBA, and the US Treasury’s Community Development Financial Institutions Fund. We are well respected by our peers in the small business assistance community. Through formal and informal partnerships, we’re able to serve a broader clientele, including Spanish and Vietnamese speaking clients, as well as to help clients access a wide variety of services, such as training, pro bono legal services, and targeted consulting. Our partnerships also provide us with a strong stream of well prepared borrowers.
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