Treasurer Steven Grossman visited Raynham-based TNT Energy to spotlight it as an example of the success of the Treasury Department’s Small Business Banking Partnership.

 TNT Energy received a $150,000 loan from Taunton-based Mechanics Cooperative Bank through the program, which it used to hire three new full time and two new part time employees and open new offices in Springfield and on Long Island in New York. The firm helps business save money on energy costs by performing energy use audits and doing infrastructure improvements required to meet energy standards established by the federal government, helping business "go green."

"TNT Energy is the kind of business we are hoping to target and help expand through our Small Business Banking Partnership," said Grossman in a statement. "It is a great privilege to support small businesses that are striving to grow in our innovation economy while offering new job opportunities."

The Small Business Banking Partnership program encourages Massachusetts community banks to make more loans to creditworthy small businesses by moving some of the Treasurer’s funds on deposit to such banks. Forty-eight community banks have agreed to participate in the program and have received $262.8 million in deposits to date. The partnership kicked off in May 2011.

 "This fund helped TNT achieve their planned expansion and growth goals over the last year and is proof that these state programs are directly benefiting our business community," said Joe Baptista, president of Mechanics Cooperative Bank, in a statement.

Grossman Points To Raynham Company To Highlight Small Business Banking Partnership

by Banker & Tradesman time to read: 1 min
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