HarborOne Bank Partners with EforAll South Coast to Launch Success for Small Business

(Brockton, MA) - July 28, 2021 - HarborOne Bank announced today it has partnered with Entrepreneurship for All (EforAll) South Coast for the Success for Small Business (SSB) Loan/Line of Credit program.

'We are excited to have the opportunity to partner with EforAll South Coast to help small businesses receive loans or lines of credit,' said Scott Sanborn, EVP and Chief Lending Officer of HarborOne Bank. 'Small business owners make significant contributions to our communities, and it is important that we do what we can to support them.'

Through this program, graduates of EforAll South Coast's small business accelerator training program are eligible to apply for HarborOne Bank's $5,000 SSB loan program without having to complete the bank's six-hour SSB education curriculum. After a year of responsible handling of the SSB business loan, the borrower can apply to increase the amount to $10,000.

Since its launch in 2016, EforAll South Coast has helped 128 local business get started through its free one-year Business Accelerator program that run twice per year. In 2020 alone, EforAll South Coast businesses generated over $6M in revenue and provided 308 local jobs.

EforAll South Coast focuses on helping under-represented individuals, who typically lack the information, tools and network needed to be successful, get their business started. Through 2020, 72 percent of all EforAll graduates were women, 70 percent were BIPOC and 39 percent were immigrants.

'EforAll is thrilled to partner with HarborOne to help our Accelerator program graduates use their EforAll training to more easily apply for a SSB loan.', said Donna Criscuolo, Executive Director for EforAll South Coast. 'Access to financial capital is challenging for all small business owners but particularly difficult for the entrepreneurs that we focus on - women and BIPOC entrepreneurs. '

The business must be located in Massachusetts or Rhode Island to be eligible for this program. For more information on eligibility or to apply, visit Financial Courses & Programs - About Us - HarborOne Bank.

About EforAll
Entrepreneurship for All (EforAll) is a nonprofit organization that partners with communities nationwide to help under-represented individuals successfully start and grow a business through intensive business training, mentorship, and an extended professional support network. To date, EforAll alumni have launched over 700 businesses. In 2020 alone, its businesses provided more than 1,300 local jobs and generated over $43M in revenue, despite the pandemic. Programs are available in both English and Spanish. EforAll current locations include Buffalo, NY; Longmont, Colo.; Northwest Arkansas; and the following Massachusetts communities: Berkshire County, Cape Cod, Fall River/New Bedford, Worcester, Holyoke, Lawrence, Lowell, Lynn, and Roxbury. To learn more about EforAll, please visit eforall.org.

About HarborOne Bank
HarborOne Bank, headquartered in Massachusetts, has $4.61 billion in assets. It serves the financial needs of consumers, businesses, and municipalities throughout Massachusetts and Rhode Island through a network of 26 full-service branches, one limited service branch, and commercial loan offices in Providence and Boston. HarborOne has been included in Forbes' Best in State Banks list for three consecutive years and Globe's Best Places to Work in 10 of the last 11 years.

The Bank also provides a range of educational services through 'HarborOne U,' with classes on small business, financial literacy and personal enrichment delivered virtually and at two campuses adjacent to our Brockton and Mansfield locations as well as at community partner locations throughout Rhode Island. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, is a full-service mortgage lender with more than 30 offices in Massachusetts, Rhode Island, New Hampshire, Maine, New Jersey, Florida and is also licensed to lend in four additional states. NMLS ID: 2561. Licensed by the New Jersey Department of Banking and Insurance. Rhode Island Licensed Lender. Equal Housing Opportunity.

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