January 3, 2024
BDC Capital Welcomes BankNewport as A Member Bank
BankNewport, located in Rhode Island, recently became a BDC Capital member bank and joins over 35 financial institutions located throughout New England as the primary funding source for BDC’s various financing programs.
Paul F. Flynn, Jr., BDC Capital’s President and CEO, stated that “BDC works in partnership with banks and investors to deliver customized financing solutions beyond the scope of conventional financing. Bankers refer many of their customers to us to help extend their institution’s lending capacity. BankNewport is a great addition to our membership.”
“Creating a positive impact in the communities in which we serve is at the core of BankNewport,” said Jack Murphy, President and CEO of BankNewport. “We truly believe that by helping individuals and businesses succeed financially, the whole community thrives – and our affiliation with BDC Capital will further expand that mission.”
NBT Bank joins the list of other BDC member financial institutions:
- Bank of America
- Bank of New England
- BankNewport
- Bank Rhode Island
- Bar Harbor Bank & Trust
- Bay State Savings Bank
- Berkshire Bank
- Boston Private, An SVB Company
- Brookline Bank
- Brown Brothers Harriman & Co.
- Cambridge Savings Bank
- Cambridge Trust Company
- Cape Ann Savings Bank
- Citizens Bank of Massachusetts
- Country Bank for Savings
- Eastern Bank
- Enterprise Bank and Trust Company
- Everett Co-Operative Bank
- HarborOne Bank
- John Hancock Financial Services
- Liberty Bank
- Middlesex Savings Bank
- MountainOne
- NBT Bank
- Needham Bank
- Newburyport Bank
- North Shore Bank
- Northmark Bank
- People’s United Bank
- Radius Bank dba LendingClub
- Rockland Trust Company
- Santander
- South Shore Bank
- TD Bank
- Westfield Bank
- Washington Trust Company
ABOUT BDC CAPITAL:
The oldest business development corporation in the United States, BDC Capital has been recognized locally and nationally as a leader and innovator in business lending and capital investment. Many of New England’s leading financial institutions invest in BDC to help promising companies expand. For almost 70 years, we have invested more than $1 billion in thousands of companies in New England.
Whether the need is $500,000 or $10 million, BDC Capital provides a wide range of financing solutions. We offer asset-based lines of credit, senior debt, junior secured debt, mezzanine investments, SBA 504 loans, and private equity options, all of which are customized to suit the needs of a business.
ABOUT BANKNEWPORT:
Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. BankNewport is one of the longest-standing community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees and communities. BankNewport has 18 branch locations, with commercial lending offices in Cumberland and Providence.
BankNewport business lines include OceanPoint Marine Lending, specializing in consumer marine and recreational vehicle financing programs, and OceanPoint Insurance, a Trusted Choice independent insurance agency, providing a broad range of property casualty insurance products, including employee benefits and marine related insurance products. More information about BankNewport is available online at www.BankNewport.com. Member FDIC.
For more information, visit our website, call us at 781-928-1100, or contact:
Paul Flynn, Jr.
Email: pflynn@bdcnewengland.com
Work: 781-928-1133
Carol C. Brennan
Email: cbrennan@bdcnewengland.com
Cell: 413-237-6648
