North Central Mass Development Corp Grants Micro Loan to Hailey’s Takeout

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The North Central Massachusetts Development Corporation (NCMDC) recently granted a loan to Henry Genao for $15,000 to assist with startup costs associated with opening Hailey’s Takeout.  Hailey’s Takeout, named after Henry’s daughter, is a fast-casual Spanish-American Restaurant located at 301 Lancaster Street in Leominster.  The new restaurant will offer a variety of lunch and dinner items, and plans to add delivery options in the future.  The hours of operation are from 11:00 a.m. – 9:00 p.m.  For more information on Hailey’s Take Out, please visit them on Facebook at www.facebook.com/HaileysTakeOut.

 

NewVue Communities assisted Henry with his business plan and financial package.  To learn more about NewVue Communities and the many services they provide please visit http://newvuecommunities.org.

 

As a microloan lender, NCMDC can provide loans to small businesses up to $150,000 for working capital, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

 

The North Central Massachusetts Development Corporation (NCMDC) is a non-profit economic development corporation with the mission of creating jobs and improving the economy. 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 in 76 communities in Worcester, Middlesex and Franklin Counties with loans and business assistance.  Since 1996, the NCMDC has granted over $6,000,000 in loans to small businesses to help grow jobs and the economy in the region

 

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

 

Leominster Salon Receives Micro-loan from North Central Mass Development Corp

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The North Central Massachusetts Development Corporation (NCMDC) granted a micro-loan to Sarah and Jacob Hawkins for $25,000 to assist with the purchase of Rituals Salon and Day Spa, an existing business located in Leominster.  Sarah has over 15 years of experience in the industry starting her career in San Diego before joining Rituals 11 years ago.  Rituals Salon, an Aveda Concept Salon, is conveniently located at 646 Central Street in Leominster and has been in business for over 17 years offering hair, nails, skin and massage services.

This loan was a gap loan in partnership with Workers Credit Union.  NewVue Communities assisted the new owners with a business plan and financial package.  For more information please visit www.ritualsspa.com.

As a microloan lender, NCMDC can provide loans to small businesses up to $150,000 for working capital, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

 The North Central Massachusetts Development Corporation (NCMDC) is a non-profit economic development corporation with the mission of creating jobs and improving the economy. 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 in 76 communities in Worcester, Middlesex and Franklin Counties with loans and business assistance.  Since 1996, the NCMDC has granted over $6,000,000 in loans to small businesses to help grow jobs and the economy in the region

 

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

North Central Massachusetts Development Corporation Awarded Workforce Development Grant

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The North Central Massachusetts Development Corporation (NCMDC) was awarded an $8,000 matching AMP it up! grant from MassDevelopment to support its efforts to respond to the region’s shortage of skilled workers in the manufacturing industry.  Working in partnership with Mount Wachusett Community College, Fitchburg State University, the region’s public schools, and local manufacturers, the NCMDC will utilize these funds to support its efforts to raise awareness of career paths in the advanced manufacturing field.

“We’re very excited about this opportunity to continue our efforts with our partners in the community and address the region’s workforce challenges,” stated Roy Nascimento, President & CEO of the North Central Massachusetts Chamber of Commerce and its development arm the North Central Massachusetts Development Corporation. “These are high skilled jobs that attract employers and serve as a gate way to the middle class for many people” he continued. “Ensuring the next generation is ready to fill these roles is absolutely essential.”

“There’s a stigma attached to these careers,” explained the NCMDC’s Public Affairs Manager, Christopher McDermott. “Peoples’ perception of the industry is largely based upon what it was a century ago. They don’t realize that careers in a modern facility involve far more skill and growth than they did before.”

The grant will be used to continue the momentum sustained from receiving this grant in previous years by continuing outreach to audiences that are not typically associated with careers in manufacturing and aims to target a new audience for a potential future workforce.

Outreach will highlight the exciting, technology-driven, well-paying career options in manufacturing, dispel common myths about the industry, and bolster the prospective employee base for these quality jobs with North Central Massachusetts companies.

MassDevelopment established the Advanced Manufacturing Program (AMP) to address the loss of skilled labor and knowledge that will arise as Baby Boomers leave the workforce. The problem is particularly acute in North Central Massachusetts, which is home to over 440 manufacturing firms and relies on this industry for roughly a quarter of its employment. Regionally, roughly 32% of those employed in manufacturing are over the age of 55, while 18 to 35 year olds rank manufacturing dead last among industries in which they would choose to begin a career.

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.