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Baker-Polito Administration Launches Drought Emergency Loan Fund

Statement

Date: Sept. 7, 2016
Location: Boston, MA
Issues: Business and Consumers Finance and Banking

Today the Baker-Polito Administration announced the launch of the Massachusetts Drought Emergency Loan Fund, which has the capacity to provide up to $1 million in micro-loans to family farms and other small businesses affected by widespread drought conditions in Massachusetts. The Drought Emergency Loan Fund is part of the Baker-Polito Administration's coordinated response to five consecutive months of abnormally dry weather across the Commonwealth.

"Small businesses are the bedrock of the Massachusetts economy, and our administration is deeply committed to maintaining the health and vibrancy of family-owned businesses," said Governor Charlie Baker. "Like the emergency loan fund we launched following record snowstorms, this Drought Emergency Loan Fund will provide affordable working capital to small businesses grappling with the aftermath of extreme weather."


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