Lake Sunapee Bank is pleased to announce its participation in the Jobs for New England Program through the Federal Home Loan Bank of Boston (FHLBB). This program allows Lake Sunapee Bank to offer low interest loans to small businesses in an effort to stimulate the local economy in the areas it serves.

“We’re proud to partner with the Federal Home Loan Bank of Boston to take part in the Jobs for New England Program. This program has created an opportunity to pass exceptionally low-interest funds along to our customers and has allowed us to find new ways to support small businesses and stimulate the economy in the areas we serve. We are excited to be a part of this program’s success,” said Stephen Theroux, President and Chief Executive Officer.

Through the Jobs for New England Program, the FHLBB offers members zero-percent financing on funds to be used for small business loans that meet specific criteria. These loans must be used to create or preserve jobs, expand woman-owned, minority-owned, or veteran-owned businesses, or support the local economy in another measurable way. Because the interest rate on the advance is completely subsidized, Lake Sunapee Bank is able to offer small business loans that qualify at much lower interest rates than would typically be available.

As an FHLBB member, Lake Sunapee Bank is able to take advantage of this program and has already helped two New Hampshire businesses in two different regions. The Skinny Pancake of Hanover has created 30 jobs in the Upper Valley region, and Firmly Rooted Landscaping in Weare has both retained and created jobs in the Southern New Hampshire region.

By participating in the Jobs for New England Program, Lake Sunapee Bank is able to further its mission of supporting local communities and embracing its responsibility to advocate for community growth and prosperity. Lake Sunapee Bank looks forward to supporting more small business customers through the Jobs for New England Program in the future.