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Boston-based Brookline Bank has provided a $1 million line of credit to Mill Cities Community Investments (MCCI) that will fund the latter’s Small Business Loans (SBL) program.

MCCI’s small business lending provides start-ups or expanding businesses loans that range from $100,000 to $500,000 with three- to seven-year terms.

Lawrence-based MCCI said it anticipates Brookline Bank’s financing support will allow them to deploy an additional eight to 15 small business loans in 2023 to assist entrepreneurs with the greatest need and potential for growth.

“Banks willingness to provide capital to CDFIs is critical to our ability to continue to serve and invest in our communities. We are grateful to Brookline Bank for stepping in at this time to allow us to meet the growing demands of our business owners seeking stability and growth funding,” Glynn Lloyd, Executive Director of MCCI, said in a statement.

MCCI is a CDFI or community development financial institution that offers alternative financing through loans and equity products, and technical assistance to low- to moderate-income and other underserved clients and communities who may lack access to traditional financial institutions.

“The line of credit is intended to support minority businesses through MCCI’s innovative and flexible lending practices. We’re excited about the opportunities the program will bring to un-banked and under-served communities in Massachusetts,” Brookline Bank President and CEO Darryl Fess said in a same statement.