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Align Credit Union announces launch of Haverhill Partnership Venture Fund

Align Credit Union is pleased to announce the launch of the Haverhill Partnership Venture Fund. The fund is a collaboration among Mill Cities Community Investments, Align Credit Union, Enterprise Bank, Haverhill Bank and Pentucket Bank. Each financial institution seeded the fund with $125,000 in capital bringing the fund total to $500,000. The goal of the fund is to provide business loans to new or growing Haverhill-based small businesses that have not been able to secure conventional bank financing. In addition to the funding, the lenders will support qualified small business owners with expert guidance to help position them for long-term success.

Anyone interested in starting or growing a small business in Haverhill with assistance from the Haverhill Partnership Venture Fund is encouraged to contact Frank Carvalho at Mill Cities Community Investments at frank.carvalho@mvcdfi.org or (978) 258-2772, ext. 13.

“Align is excited to be part of The Haverhill Partnership Venture Fund,” said Ray Wrobel, Align VP, Commercial Lending. “Align has a long history of supporting our community; and through this initiative, we also help fulfil dreams.”

“Most new small businesses don’t have the collateral or sales history that banks usually require for loans,” said Align President Ken Del Rossi. “This fund gives owners the support they need to grow their business, which in turn, helps to cultivate jobs and expand the local economy. It’s a win-win.”

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