NEW WEBSITE ENCOURAGES BUSINESSES TO CHOOSE NORTH CENTRAL

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The North Central Massachusetts Development Corporation recently launched a new website to serve as a resource for existing businesses, startups and companies that are considering expanding or relocating to North Central Massachusetts. The new website address is x73.b49.myftpupload.com.

The new site promotes North Central Massachusetts as a desirable place to do business by highlighting the region’s affordability, accessibility to Boston and other major markets; strong workforce; superb quality of life; and its manufacturing cluster.  Visitors to the site can look up pertinent demographics on the region as well as find information on small business loans, technical assistance and other services available through the North Central Massachusetts Development Corporation and its partners.  A collection of short case studies is also included that highlights examples of companies that have successfully relocated or expanded in North Central Massachusetts.

The new site features an attractive look and feel, and an intuitive, easy to use menu options to help users easily access the information they are looking for.  The new site is also responsive so it will adapt to the screen size of whatever device is being used for easy viewing and navigation.  The new site was designed by 3MediaWeb, a website design and development company that is a member of the North Central Massachusetts Chamber of Commerce.

“We believe that we have a great story to tell. North Central Massachusetts is a terrific place to live and grow a business,” said Roy M. Nascimento, IOM, President & CEO of the North Central Massachusetts Development Corporation. “This new website will be a great tool to help us highlight the region’s many strengths and assets and motivate people to grow their business here.”

Along with the new website, the North Central Massachusetts Development Corporation has recently undergone a rebranding and has expanded its loan programs to include an SBA micro-loan fund, a new express loan program, a second chance loan initiative and has grown its technical assistance offerings for new and established small businesses in the region.

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.  The NCMDC acts as a connector, facilitator and partner and 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.  The NCMDC is certified by the U.S. Department of the Treasury under the Community Development Financial Institution (CDFI) program and is a micro-loan intermediary for the U.S. Small Business Administration.  Since 1996, the NCMDC has granted over $4.2 million 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 North Central Massachusetts Development Corporation please call 978.353.7600 or visit x73.b49.myftpupload.com.

North Central Massachusetts Development Corporation and Worcester Regional Chamber of Commerce Partner to boost Small Business Development

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The North Central Massachusetts Development Corporation (NCMDC) and the Worcester Regional Chamber of Commerce have announced a new partnership to bring additional micro lending resources closer to young companies in the City of Worcester and the southern region of Worcester County.

The collaboration involves the NCMDC providing start-up and existing small businesses in Worcester with access to its microloan financing programs, which provide loans of up to $50,000 to help businesses that may not meet the traditional lending standards.  The Worcester Regional Chamber, along with its partner affiliates – the Auburn Chamber of Commerce, Blackstone Valley Chamber of Commerce, Chamber of Commerce of Central Mass South, Wachusett Area Chamber of Commerce and Webster-Dudley-Oxford Chamber of Commerce will provide the NCMDC with marketing support in their communities and a presence in their office for their loan officers to counsel potential clients.

The North Central Massachusetts Development Corporation’s microloan program adds to a variety of small business resources the Worcester Regional Chamber of Commerce and its affiliate partners currently provides through its partnerships with SCORE, the Massachusetts Small Business Development Center at Clark University (MSBDC), the Worcester Business Development Corporation, and the Worcester Business Resource Alliance.

“This partnership with the North Central Massachusetts Development Corporation enhances the resources provided by the Chamber to support entrepreneurs and start-ups who are so important to Worcester and the region’s economic growth,” said Timothy P. Murray, President & CEO of the Worcester Regional Chamber of Commerce. “These microloans will provide entrepreneurs and start-up businesses with the critical infusion of capital that they need to take their business from dream to reality.”

“Our microloan program has had a profound impact on our business community in North Central Massachusetts. We have a long and successful history of supporting small businesses with financial resources and technical assistance,” said Roy M. Nascimento, President & CEO of the North Central Massachusetts Development Corporation. “We are excited to partner with the Worcester Regional Chamber of Commerce to expand our lending to the Worcester area and help support the small and emerging businesses there that help drive the economy forward.”

The North Central Massachusetts Development Corporation (NCMDC) is a non-profit corporation 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 $4.3 million in loans to small businesses to help grow jobs and the economy in 26 communities in the North Central Massachusetts region.  In addition, these funds were leveraged with local financial institutions providing $14.8 Million of their funds and local investors and business owners providing another $3.2 Million. Thousands of new jobs have been created in the region as a result of the loans made.

Microloan programs have become increasingly important to the business community since the economic collapse in 2008 that put more restrictions on how banks can serve small business loans. Micro loans made by the NCMDC can be used for working capital, leasehold improvements, machinery and equipment, furniture and fixtures and refinancing of business credit card debt. Eligible businesses include manufacturing, retail, wholesale and service businesses usually having five employees or less at the time of application and meeting the definition of small business. The interest rates are flexible, but generally close to the current fixed market rate.

NCMDC loan officers will be available via appointment to serve the needs of new clients in the Worcester area. To schedule an appointment, please contact the NCMDC at 978.353.7607 or contact the Worcester Regional Chamber of Commerce at 508.753.2924.

All-Day Workshops Scheduled for Entrepreneurs in Devens, MA

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All-Day Workshops Scheduled for Entrepreneurs in Devens, MA

with Special Guest Speaker Senator Jamie Eldridge

The North Central Massachusetts Development Corporation and North Middlesex Savings Bank are holding two business workshops on January 25, 2017 aimed at assisting potential and existing entrepreneurs.

These free workshops are approximately 2 hours each and are being held in partnership with the North Central Massachusetts Chamber of Commerce, Massachusetts Small Business Development Center, SCORE, NewVue Communities, Center For Women & Enterprise, and the Town of Ayer’s Economic Development Office.  Both workshops will each run approximately two and a half hours and will be held at the Mount Wachusett Community College Devens Campus, 27 Jackson Rd, Devens on Wednesday, January 25.

“Financial literacy for small business owners is key to making smart business decisions given that financial services are often made in-house by small businesses,” said State Senator Jamie Eldridge (D-Acton). “Small businesses are the backbone of local economies across Massachusetts, and workshops like these provide people with the necessary knowledge and tools for financial success.”

Session I: Fundamentals in Planning, Preparing, and Financing Your Business will run from 8:30 a.m. to 11:00 a.m. and will focus on evaluating and understanding the fundamentals of owning one’s own business.  Information on how to get started, where and how to get financing and the loan application process will be presented.  Registration begins at 8:00. Continental breakfast will be provided for all participants.  Presented by Bob Aspel, SCORE
Session II: Understanding the Purpose of Financial Statements and How They Can Help Determine the Health of Your Business will run from 11:30 a.m. to 2:00 p.m. and will focus on understanding a balance sheet, income statement and cash flow statement.  The workshop will also explain how a small business owner can anticipate financial needs in order to operate his/her business more efficiently.  Registration begins at 11:30. Lunch will be provided for all participants. Presented by Robert C. Alario, CPA

To register, please contact Sandie Cataldo at 978-353-7607 ext. 232 or [email protected].  You may also register online at northcentralmass.com.    

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 or technical assistance programs, please call 978.353.7607 or visit x73.b49.myftpupload.com.

North Central Development Corporation Launches “A Second Chance” Loan Program

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The North Central Massachusetts Development Corporation (NCMDC) today announces the launch of its new “A Second Chance” loan program to assist start-up and existing small businesses that have been declined financing through their bank, credit union or other lending institution.

Under this new program, any business that has had their loan request denied can bring it to the North Central Massachusetts Development Corporation to have the request reviewed by its experienced loan officers. The NCMDC will provide a free, no obligation second look at the loan request, thus giving the loan request “a second chance” at receiving approval.  The NCMDC has more flexibility and less stringent guidelines than traditional lenders.  The NCMDC also partners with many financial institutions and may be able to work with the bank to help with funding approval.

The new program was developed to help start-up and existing small businesses that find themselves in a situation where they are having difficulty securing the financing that they need to grow their business.  New banking restrictions put in place during the economic collapse of 2008 and strict underwriting guidelines from banks have made it increasingly more difficult for entrepreneurs and small businesses to secure financing of less than $100,000.  The NCMDC provides loans up to $75,000 that can be used for working capital, leasehold improvements, machinery and equipment, furniture and fixtures and refinancing of business credit card debt.  Eligible businesses include both start-up and existing businesses such as restaurants, retail shops, service businesses, small manufacturers, home-based businesses or other businesses that would typically meet the definition of a small business.

“Providing additional financing options shows that we are committed to helping small businesses grow and prosper in the region,” said Roy Nascimento, President & CEO of the North Central Massachusetts Development Corporation. “Helping small businesses is crucial to growing jobs and advancing North Central Massachusetts.”

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.  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.  The NCMDC is certified by the U.S. Department of the Treasury under the Community Development Financial Institution (CDFI) program and is a micro-loan intermediary for the U.S. Small Business Administration.  Since 1996, the NCMDC has granted over $4.3 million in loans to small businesses to help grow jobs and the economy in 26 communities in the North Central Massachusetts region.  In addition, these funds were leveraged with local financial institutions providing $14.8 Million of their funds and local investors and business owners providing another $3.2 Million. Thousands of new jobs have been created in the region as a result of the loans made.

For more information about the “A Second Chance” loan program or the other loan programs available through the NCMDC, please call 978.353.7607 or visit x73.b49.myftpupload.com.

Brewery Opening in Downtown Fitchburg

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The North Central Massachusetts Development Corporation (NCMDC) has recently granted a small business loan for $75,000 to River Styx Brewery, LLC to be located in Downtown Fitchburg.

NCMDC granted a loan to Jackie and Scott Cullen to assist with opening River Styx Brewery, a 10-barrel brewery and tap room to be located at 166 Boulder Drive in Fitchburg.  The Cullen’s have been small batch brewing as well as traveling the country to different breweries for many years preparing to enter into this growing industry and are scheduled to open next summer joining many new small businesses in downtown Fitchburg.  The NCMDC funds will be used to assist with the leasehold improvement and equipment.

We are very excited to welcome River Styx Brewing to downtown Fitchburg, where we have been focusing a great deal of our economic development efforts” said Fitchburg Mayor Stephen L. DiNatale. “River Styx fits well within our creative economy, and we know that it will serve as a catalyst to bring people and tourists into the city to enjoy all that Fitchburg has to offer.”

This loan was in partnership with The City of Fitchburg and the Fitchburg Redevelopment Authority and will create four new jobs.  For more information on what we can do for your business visit x73.b49.myftpupload.com.

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.

Nypro, a Jabil Company Hosts Local Youth as Part of Manufacturing Month Activities

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 Nypro, a Jabil Company hosted approximately 20 young men and women from the Boys & Girls Club of Fitchburg and Leominster and the Spanish American Center on Wednesday, October 12, 2016.

The North Central Massachusetts Chamber of Commerce and its economic development affiliate the North Central Massachusetts Development Corporation organized this tour in partnership with Mr. Jon Blodgett, Teen Director of the Boys & Girls Club, as well as Mr. Bill Muldoon and Mr. Tim Brown, both of Nypro, a Jabil Company.  The tour was part of efforts to celebrate Manufacturing Month and inspire young people to consider careers in advanced manufacturing.

The Nypro team kicked off the day’s events at their facility in Clinton, with an informative presentation followed by a tour. The young men and women from both the Spanish American Center and the Boys & Girls Club were privy to a wealth of knowledge and hands-on demonstrations. Rounding out the tour, members participated in a Q&A with the team and learned about 3D design and the advanced manufacturing processes used in the industry.

“Manufacturing is alive and well in North Central Massachusetts,” said Roy Nascimento, President and CEO of the North Central Massachusetts Chamber of Commerce, “Advanced manufacturing accounts for one in four jobs in the region and these are some of the most well-paid, highly trained and in demand jobs in the workforce, working on some of the most advanced equipment and technology.”

However, many manufacturers have been challenged recruiting the workers they need.  Despite the high wage potential and increasing employer demand, there is both a need for more young workers and a skills gap among an existing and a transitioning workforce.

The North Central Massachusetts Chamber of Commerce and the North Central Massachusetts Development Corporation remain committed to supporting and growing this critical sector of the region’s economy.  From our collaborations with local schools and colleges, internship and career exploration programs and our HYPE program, the North Central Massachusetts Chamber of Commerce and the North Central Massachusetts Development Corporation, are engaging and connecting businesses to the next generation of talent—to ensure a consistent and continual pipeline of talent.

North Central Mass Development Corp Provides Financing to Fight or Flight Tattoo and Looking Glass

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North Central Massachusetts – The North Central Massachusetts Development Corporation (NCMDC) has recently granted two small business loans totaling $41,600 to Fight or Flight Tattoo in Fitchburg and Looking Glass located in Leominster.

NCMDC granted a loan to Fight or Flight Tattoo for $25,000.  Fight or Flight is a tattoo and piercing parlor located at 206 Summer Street in Fitchburg.  This loan was in partnership with TD Bank and the funds will be used to assist with the purchase of the commercial property that Flight or Flight Tattoo has leased since opening ten years ago.   Owner Andy Sansone originally opened The Ink Shop tattoo parlor on Lunenburg St. in 2006 and moved to the current location in 2007 when he changed the name to Fight or Flight Tattoo.  This loan helped to retain four jobs.  For more information visit www.fightorflighttattoo.com.

Looking Glass received a loan from the NCMDC in the amount of $16,600.  Looking Glass, located on 21 Central Court in Leominster, MA, is a full service glass company specializing in high end residential and commercial glazing in the construction industry. . Looking Glass offers a wealth of knowledge and experience aiming to complete every job with the highest standard and give their customers the best products the industry has to offer. Looking Glass was a referral from SCORE, an NCMDC business counseling partner. This loan allowed Shaun DeLisle, owner of this start-up company, to purchase a company vehicle making the transfer of tools and products more efficient.

“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 a microloan 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 and its loan programs, call 978.353.7607.

North Central Mass Development Corp Provides Financing to Local Small Businesses

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The North Central Massachusetts Development Corporation (NCMDC) is proud to announce that Sharp Design and Beemer’s Pub and Grill, both of Fitchburg, are recipients of our new Express Loan program.

Beemer’s Pub and Grill, a restaurant that has recently relocated to 310 Main Street in Fitchburg will be relaunching soon and was in need of a loan for working capital to assist with the re-opening. The NCMDC gave Beemer’s the full express loan amount of $5,000. Beemer’s has proudly served the Fitchburg and surrounding communities for years and are looking to make an impact in the creative economy at their new location. Be on the lookout for their grand re-opening coming soon.  Beemer’s was a referral from NewVue Communities (formerly Twin City CDC) and this loan will help to retain 20 jobs.  For more information visit www.beemerspub.com.

In related news, Sharp Design of 360 Summer Street in Fitchburg, a well-received hair salon with a sterling reputation, was in need of equipment upgrades. Being granted the full express loan amount of $5,000 from the NCMDC, it gave Sharp Design the perfect amount of relief needed to assist them in their upgrades. Now Sharp Design is using state of the art equipment leaving their clients happy and satisfied.  Sharp Design’s was also a referral from NewVue Communities (formerly Twin City CDC).  This loan will help to retain 10 jobs.  For more information call (978) 343-3324.

The North Central Massachusetts Development Corporation has developed a new Express Loan Program to assist existing small businesses that need quick access to funding.  The new program offers a loan request up to $5,000 with financing available within a week.  If approved, the business is also eligible to receive business assistance from NCMDC staff and consultants.

For more information about the NCMDC and its loan programs, call 978.353.7607.

“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 a microloan 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.