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Foster Health Systems Receives SEED Loan Toward Expansion

Oct 2, 2015 | Reprints | Unlock Link | Print

Foster Health Systems Inc. in Stoughton has received a $74,000 loan from the South Eastern Economic Development (SEED) Corp.

The loan, arranged under the SBA 504 program, will go toward the business’s expansion and creation of five new jobs.

Foster Health Systems aims to use the loan to purchase a 2,000 square-foot commercial condominium located at 4 Cabot Place. Lisa Holmes from SEED and Abby Nguyen of Eastern Band arranged the financing.

Under the SBA 504 program, SEED can provide up to 40 percent of the requested financing behind a bank for the purchase of buildings and equipment with a life of 10 years. The term on the loans is up to 10 years with longer repayment periods available.

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