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Confronting DeclineThe Political Economy of Deindustrialization in Twentieth-Century New England$
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David Koistinen

Print publication date: 2013

Print ISBN-13: 9780813049076

Published to Florida Scholarship Online: May 2014

DOI: 10.5744/florida/9780813049076.001.0001

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PRINTED FROM FLORIDA SCHOLARSHIP ONLINE (www.florida.universitypressscholarship.com). (c) Copyright University Press of Florida, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in FLASO for personal use.date: 18 September 2021

Small Business Financing in Mid-Twentieth-Century New England

Small Business Financing in Mid-Twentieth-Century New England

Chapter:
(p.139) Chapter 5 Small Business Financing in Mid-Twentieth-Century New England
Source:
Confronting Decline
Author(s):

David Koistinen

Publisher:
University Press of Florida
DOI:10.5744/florida/9780813049076.003.0006

For the most part, efforts to spur the growth of new industries in New England to replace sectors in decline had limited impact. In one domain, however, the push for economic development achieved significant results. This was an attempt during the 1930s and 40s to improve the financing of new and small companies in the region. The insufficiency of financing for small business was an important concern of corporate leaders throughout the United States during the first part of the twentieth century. New England’s need for added employment gave the small business finance question particular urgency there. To make more money available to small firms, New England businessmen conducted studies on the sources of financing, established some of the country’s first venture capital organizations, and pressed local commercial banks to provide more small business loans. Small New England companies obtained significant additional financing as a result of these endeavors.

Keywords:   small business finance, venture capital, commercial banks, small business lending

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