North Central Massachusetts Development Corporation approves financing to Wonder Products
The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, recently approved a $50,000 loan to Wonder Products, a Sterling-based company focused on innovating everyday household products.
Funding will be utilized to support marketing efforts, and increased inventory and capital to grow the business surrounding the company’s newest product, the Wonder Plunger.
Founded in 2016 by Michelle Salas out of her desire to keep her home, and especially her bathroom, clean, Salas invented the Wonder Plunger. Wonder Plunger is a unique toilet plunger designed to shrink down for storage or expand for use with its patented one hand design and a ventilated base to prevent water build up following use.
“With the support of the North Central Massachusetts Development Corporation, we will be able to expand our product reach through creative marketing efforts while also increasing our inventory and capital to bring consumers a unique plunger that provides a collapsible concept, aesthetically pleasing colors and a one-handed operational format to make our bathrooms cleaner.”
While the business has grown via word of mouth, the Wonder Plunger is sold at www.wonderplunger.com and via various online retail outlets. Small Business Development Center at Clark University assisted Michelle with her business plan and projections.
As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.
For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.