Action Steps
The best contacts and resources to help you get it done

Open a savings account through a Massachusetts savings and loan institution

Most people realize the importance of a savings account to keep their money in a safe place. A savings account can also be a safe investment vehicle, particularly when you will need access to the money in the short term, without facing the same risks as the stock market.

I recommend: You can easily open an account at Milford Federal Savings & Loan. However, if you want a much higher interest rate, you should link your account to an online bank such as ING Direct.

Apply for a mortgage through a MA savings & loans bank

When it's time to purchase a property, a good bank will help you to finance the purchase. It's always a good idea to check with several banks to get the best rate on your mortgage.

I recommend: Compare the rates between a large company, such as Bank of America and a small company such as Village Bank. It's often surprising who has the better deal.

Get a business loan from a savings and loan institution in Massachusetts

A good business loan can help your business get off the ground. You can use this money to cover your start up costs, such as equipment or personnel. You must first qualify for a business loan before a bank will give you the money.

I recommend: Unibank offers many different types of loans for business owners, as does the Bank of Canton. You can surely find a loan that meets your needs.

Helpful advice for making the most of this Guide

• •  When you take out a loan from a Massachusetts savings and loan institution, it's important to make sure that you understand all of the terms and fees. You don't want hidden costs to surprise you. Have a lawyer review the contract if you are unsure.