Spotlight

BankLOCAL Expands

Idea Category: Infrastructure

NewDEAL Leader Rhode Island Treasurer Seth Magaziner announced that his BankLOCAL initiative is expanding after two successful years of operation. BankLOCAL, which was one of six winners of the NewDEAL 2017 New Ideas Challenge policy competition, incentivizes banks and credit unions to make loans to local small businesses by moving state money into community banks, opening up capital for reinvestment. Learn more about BankLOCAL, which has supported loans for more than 235 small businesses so far. Click here to tweet about Treasurer Magaziner's work on BankLOCAL.

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