SEED Ventures, LP is being established by the Southeastern Economic Development Corporation, (SEED). The Fund will improve the economic well being of residents by providing needed equity and subordinated debt to small businesses located in low income communities in Southeastern Massachusetts.
SEED is a non-profit SBA Certified Development Company created in 1982 to assist the start up and expansion of small businesses in the region. SEED has worked with commercial banks and government agencies to develop loan and business assistance programs to address the financing needs of small businesses. Since inception, SEED has made over 1,000 loans totalling more than $126 million. These loans have leveraged $274 million in bank debt and have helped to create 7,400 new jobs in Southeastern Massachusetts.
SEED Ventures LP will be the first mezzanine/equity fund managed by SEED. The proposed Fund will invest in growth oriented businesses primarily located in the inner cities, residential suburbs and rural towns designated as Econmic Target Areas.
PCI Loan Amount: $250,000
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