North Central Mass Development Corp Provides Financing to Local Small Businesses
The North Central Massachusetts Development Corporation (NCMDC) has recently granted two small business loans totaling $30,000 to Norma’s Corner Dog Day Care in Townsend and to Gallery Sitka in Downtown Fitchburg. The loans enabled these businesses to expand and retained three jobs.
NCMDC granted a loan to Norma Foster, owner of Norma’s Corner Dog Day Care, for $20,000 to assist with relocating and the expansion of her business. Norma had been operating her grooming and dog breeding business from her home in Pepperell, MA for over 30 years. Recently she moved the business to a storefront in the Townsend Harbor Village Shopping Center, Townsend. The move will enable the Norma and her son/partner, Joseph Bouchard, to expand their services to include dog day care, overnight boarding and offer retail dog products. This loan is being made in conjunction with a loan by North Middlesex Savings Bank and will help to retina two jobs. For more information please visit www.normascorner.com.
Gallery Sitka was the recipient of the first Fast Track Loan, a new NCMDC product
“Helping strengthen small businesses and entrepreneurs stimulates job creation and is critical to North Central’s economic growth,” said Raymond J. Martino, President of Simonds International and Chairman of the Board of the NCMDC. “The North Central Massachusetts Development Corporation is providing much needed capital and technical assistance to help our local businesses grow and thrive in the region.”
As amicroloan lender, NCMDC can provide loans to small businesses up to $75,000 for working capital, equipment, inventory, expansion and working with our banking partners provide gap financing for the final piece of a project.
The North Central Massachusetts Development Corporation (NCMDC) is a non-profit corporation with the mission of creating jobs and improving the economy of North Central Massachusetts. NCMDC is certified by the U.S. Small Business Administration (SBA), and the U.S. Department of the Treasury under the Community Development Financial Institutions (CDFI) Program. The NCMDC works in partnership with local banks, credit unions, chambers of commerce and area nonprofits to support emerging microenterprises, small businesses, and community projects with loans and business assistance. Since 1996, the NCMDC has granted over $4,200,000 in loans to small businesses to help grow jobs and the economy in 26 communities in the North Central Massachusetts region.
For more information about the NCMDC loan programs, please call 978-353-7607.