A Niche Opportunity for Business Success in Massachusetts

June 11, 2011 - PRLog -- Massachusetts based banks are being urged to help small businesses thrive by participating in a state initiative that shifts cash deposits from the control of the state treasurer to local banks.

The program permits locally based banks to obtain $5 million in state cash deposits if they are willing to increase their loans to small businesses.

“When I became treasurer, I wanted to put money in local banks,” said State Treasurer Steve Grossman as he described the Small Business Banking Partnership program during a roundtable discussion that was hosted by State Rep. James Murphy, D- Weymouth at Fogg Library on June 8 with a gathering of South Shore bank executives along with State Reps. Bruce Ayers, D- Quincy, Mark J. Cusack, D- Braintree, and James Cantwell, D- Marshfield.

“During the current recession, small community banks have increased their lending,” Grossman said.

Grossman explained that the state has $100 million in taxpayer fees that it intends to deposit into local based banks throughout Massachusetts under the Small Business Banking Partnership.

“More taxpayer money should be deposited into Massachusetts based banks to create jobs at home,” Grossman said. “So far 49 banks have signed up for the program.”
Weymouth Bank senior vice president James A. Graziano said the initiative is well intended, but it would not benefit his firm because few businesses are interested in borrowing from it.

“Our bank has had a problem with growing money during the last three years,” Graziano said. “Most businesses are in a wait and see mode. We had an advertisement for businesses to obtain an equipment loan and we did not receive one call.”

South Shore Chamber of Commerce president Peter Forman said small businesses appear to be interested in developing new technologies for their business like having a new Internet web site.

“They have to be matched up with a bank and we are willing to help them,” Forman said. “There is money to be made by a bank that does not lend.”

Given the economic outlook going forward, consider starting your own business in Massachusetts and the advantages of being self employed and working from home.

Starting your own business in Massachusetts does not necessarily mean a brand new invention or product. In fact, many successful small businesses have found a way to deliver an existing service or product more efficiently and economically or have customized an existing product or service to fit an opportunity.

If you are motivated and entrepreneurial, and believe that you will do well with your own business and you are disciplined and willing and to put the effort, time and money, a home based business may be for you.

If you are in career transition, or have always wanted to own your own business, your next career move might just be as a business owner of one of the nation's most sought after franchise companies the ACFN ATM Franchise.

The ACFN ATM Franchise Business is headquartered in San Jose, California, where the company was ranked by the Business Journal as the 43rd Fastest Growing Private Company in Silicon Valley for 2007 - 2009.

Entrepreneur Magazine's Franchise 500 listing for 2010 ranks ACFN, the only ATM franchise business in the US, #1 in category "Miscellaneous Financial Services".

ACFN the innovative ATM Franchise Business based in Silicon Valley, is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses.

“ACFN is a U.S. company with operations in all 50 States and Canada, however by utilizing our franchise business model we maintain the operating efficiencies of a local company”, says Jeff Kerr, Founder and President of ACFN.

“ ACFN's ATM franchise equips you with the tools and the know how to manage the business". Avi Blankroth, Executive Vice President of ACFN says. "The process begins with each franchisee purchasing ATMs, while ACFN locates and contracts lucrative placement locations"

About  ACFN

http://www.youtube.com/watch?v=y2DuNabUgNA



Find out how you can benefit from ACFN to help deliver return on investment, positive cash flow and improved revenue.

More information is available at:

http://www.acfnfranchised.com/

American Consumer Financial Network (ACFN)
111 W. St. John St
Sixth Floor
San Jose, CA 95113

Tel: 888-794-2236

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ACFN is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses. Providing ATM services since 1996, franchised in 2003 with 170 franchises, 1400 ATM Machines in the US and Canada.