BOSTON, MA – May 23, 2018
Dorchester Bay Economic Development Corporation announced its Innovation Lending Strategy earlier this month, which focused on increased access to capital, cutting-edge financial tools, and impactful technical assistance. The goal is to help facilitate new business growth in some of Boston’s most under-served neighborhoods, including Dorchester, Roxbury, Mattapan, Hyde Park, Jamaica Plain and Roslindale.
Enquiron® is proud to partner with Dorchester Bay to provide its small business clients access to HR, health care, and retirement advisory services, resources and tools to help in their growth and compliance efforts – ultimately helping them succeed as a small business. “Our community is very important to us,” said Mike Naclerio, President, and CEO of Enquiron. “We understand that many small businesses don’t have the resources they need. We want to provide complementary support to help them succeed and realize their true potential.”
Dorchester Bay also partnered with the City of Boston’s Office of Financial Empowerment to offer credit repair counseling to its small business clients. These two new partnerships make Dorchester Bay’s technical assistance offerings some of the strongest in the city.
There are more than 3,000 target businesses in Dorchester Bay’s service area, and the Innovation Lending strategy will meet this growing demand. Additionally, the United States Small Business Administration announced a $500,000 investment in the Dorchester Bay program. This kicks off a campaign to raise a total of $6.5M to increase small business lending to communities in need. The event announcing the new Innovation Lending program was held on May 3, 2018 and was hosted at Boston Private Bank in Boston, MA. Brought together Dorchester Bay employees, Enquiron staff, the U.S. Small Business Administration, the Mayor’s Office of Economic Development, representatives from local businesses in the area were honored and acknowledged for their efforts to make investments in Boston by opening small businesses.
Perry Newman, CEO of Dorchester Bay, and Jim McSherry, Director of Economic Development at Dorchester Bay, facilitated the event bringing light to the ideas and talent in Boston’s communities. The highlights of the event included Dorchester Bay representatives demonstrating how Dorchester Bay and their partners are intelligently striving to meet unmet needs through research, quantification and an ambitious growth strategy – including an online lending platform, cutting-edge financial tools, and new lending capital. Johnny Charles, Loan Officer at Dorchester Bay, provided guests with the privileged experience of meeting and learning about many of the small businesses that Dorchester Bay supports.
Enquiron, www.enquiron.com, headquartered in Boston, Massachusetts, provides consultative business solutions to employers in all 50 states, across various industries, sectors and sizes. Since 1996, Enquiron has revolutionized the way that services impacting Human Resources, Employment Law, Health Care, Retirement, Cybersecurity and more are delivered to and utilized by employers. Enquiron has locations across the United States and is a trusted partner to organizations who need specific answers to specific questions.
ABOUT DORCHESTER BAY ECONOMIC DEVELOPMENT CORPORATION
Dorchester Bay Economic Development Corporation was founded in 1979 by local civic associations and dedicated community members to address the problems of economic disinvestment, unemployment, crime, community tensions and the shortage of quality affordable housing undermining Boston’s Dorchester neighborhoods. More information is available at www.dbedc.org.