STARTING OR EXPANDING A SMALL BUSINESS 101 SEMINAR SCHEDULED FOR MAY

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The North Central Massachusetts Development Corporation and Avidia Bank are holding two business workshops on Wednesday, May 2, 2018 aimed at assisting potential and existing entrepreneurs.

These free workshops are approximately two and a half hours each and are being held in partnership with the North Central Massachusetts Chamber of Commerce, Massachusetts Small Business Development Center, SCORE and NewVue Communities.  Both workshops will be held at the North Central Massachusetts Chamber of Commerce office, 860 South Street, Fitchburg, MA.

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 Aspell, 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 Bob Aspell, SCORE

North Central Massachusetts Development Corp Grants a Micro-Loan to Small Business in Worcester

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The North Central Massachusetts Development Corporation (NCMDC) recently granted a $20,000 micro-loan to Lauren and Zack Rohacik, owners of Steel Strength and Nutrition.   Steel Strength and Nutrition is a retail supplement store located at 458 Park Avenue in Worcester.  This business provides its customers affordable, high quality vitamins and minerals, herbal supplements, clean sports nutrition, meal replacements, and a limited selection of sports apparel and weight lifting equipment.  Zachary and Lauren have spent their entire adult lives as fitness enthusiasts, and competitive power lifters as well as coaches and sponsors of youth organizations, church groups and gyms.

This loan will assist with the purchase of inventory, as well as marketing and other costs associated with starting the new business. The loan was a referral from the Small Business Development Center (SBDC) at Clark University.  SBDC also assisted Lauren and Zack with a business plan and financial package.

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