Massachusetts small business owners have a new free resource to help them grow. Small Business Strong, in partnership with Bank of America, recently launched a new Small Business Learning Series that will deliver free monthly sessions packed with practical tools, expert insights, and networking opportunities for entrepreneurs across the Commonwealth.
CDC New England's Dennis Breitrick, Vice President and Business Development Officer at BDC Capital, attended the inaugural event and came away impressed by both the content and the quality of connections in the room.
The launch of this program reflects a shared commitment among Massachusetts business organizations to support economic inclusion, workforce development, and the long-term health of the small business ecosystem. Here are the key takeaways from the first session and what business owners should know heading into the rest of 2026.
Build Your Personal Board of Directors
One of the central themes from the kickoff event was the importance of assembling a strong team of advisors around your business. The presenters encouraged entrepreneurs to think of this group as a "personal board of directors."
This advisory team should include professionals across several disciplines: a CPA or tax advisor, a banker who understands your industry, an attorney for legal guidance, a technology consultant, and an HR specialist as your team grows. Each of these advisors plays a different role in helping you make better decisions, avoid costly mistakes, and identify opportunities you might not see on your own.
For small business owners considering a major move like purchasing commercial real estate or expanding operations, this advice is especially relevant. Having the right banker and the right financing partner in place early can make the difference between a deal that comes together smoothly and one that stalls out.
The 6 C's of Credit Every Business Owner Should Understand
Another highlight from the session was a breakdown of the 6 C's of Credit. Understanding how lenders evaluate your business is critical whether you are applying for a line of credit, an equipment loan, or an SBA 504 loan to purchase your building.
Capacity refers to your ability to repay the loan. Lenders look at cash flow, revenue trends, and existing debt obligations to determine whether your business generates enough income to cover the new payment.
Conditions refer to the broader economic environment and the specific purpose of the loan. Lenders want to understand what you plan to do with the funds and how current market conditions might affect your ability to succeed.
Character is about your track record. Lenders review your personal and business credit history, payment patterns, and overall reliability. A strong history of meeting financial obligations builds confidence that you will do the same with a new loan.
Communication matters more than many borrowers realize. Lenders value borrowers who are transparent, responsive, and proactive about sharing financial information. Keeping your lender informed, especially during challenging periods, strengthens the relationship and builds trust.
Collateral is the asset that secures the loan. In the case of commercial real estate, the property itself typically serves as collateral. Lenders assess the value and condition of the collateral to determine how much risk they are taking on.
Capital refers to the borrower's own investment in the project. Lenders want to see that you have skin in the game. The more equity you bring to the table, the more confidence the lender has in your commitment to the project's success.
Small Business Owners Are Entering 2026 With Cautious Optimism
The session also drew on findings from Bank of America's 2025 Business Owner Report, which surveyed over 1,000 small and mid-sized business owners across the country. The data paints a picture of cautious but genuine optimism heading into 2026.
According to the report, 74% of business owners expect their revenue to increase in the coming year, and nearly 60% plan to expand their businesses. About 43% plan to hire additional staff. At the same time, business owners noted that their confidence would improve with greater stability in tariff policy, cooling inflation, and lower interest rates.
Technology adoption continues to accelerate. The report found that 77% of business owners have integrated AI into their operations over the past five years, using it for marketing, content production, customer service, and inventory management. Looking ahead, 91% plan to adopt more digital tools over the next five years to improve efficiency and support growth.
For Massachusetts business owners specifically, these national trends align with what organizations like Small Business Strong are seeing on the ground: entrepreneurs are focused on building smarter, more sustainable systems around their businesses rather than chasing growth at any cost.
Why Programs Like This Matter for Small Businesses
Small Business Strong was founded in 2020 when a coalition of 17 organizations came together to help Massachusetts small businesses navigate the economic impact of the pandemic. The initiative is part of the Greater Boston Chamber of Commerce Foundation and has served more than 3,600 businesses and preserved nearly 10,000 jobs since its founding.
The new Learning Series with Bank of America builds on that foundation by offering ongoing, structured education that goes beyond one-time workshops. Monthly sessions give business owners the chance to build relationships with advisors, learn from experts, and stay current on the tools and strategies that can help them compete.
These types of programs are especially valuable for business owners who are at a growth inflection point. Whether you are thinking about purchasing your first commercial property, expanding into a new location, or investing in equipment to scale production, having access to expert guidance and peer networks can accelerate your timeline and reduce risk.
How CDC New England Supports Small Business Growth in Massachusetts
At CDC New England, we work alongside banks and business owners every day to structure SBA 504 loans that make commercial real estate and equipment purchases more accessible. With as little as 10% down and long-term fixed rates for up to 25 years, the SBA 504 program helps businesses stop renting and start building equity.
We have been participating in the SBA 504 program since 1981 and have originated over $1 billion in 504 loans, resulting in more than $2.5 billion in total financing and thousands of new jobs across New England. As the only Premier Certified Lender serving Connecticut, Massachusetts, New Hampshire, Rhode Island, and Vermont, we are uniquely positioned to help businesses at every stage of growth.
If you are a small business owner in Massachusetts looking to take the next step, we encourage you to take advantage of free resources like the Small Business Strong Learning Series and to contact CDC New England when you are ready to explore financing options for commercial real estate or equipment.
You can also connect with Dennis Breitrick directly to discuss how an SBA 504 loan might fit into your growth plans. Dennis covers Connecticut and Western Massachusetts and can be reached at dbreitrick@bdcnewengland.com or (203) 824-1755.
