The North Central Massachusetts Development Corporation 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.
The NCMDC requires that the business being financed will create at least one new job for every $20,000 obtained through our loan programs.
Our lending team can tell you which loans would be best for you and can guide you through the application process. Contact the NCMDC at 978. 353.7607. Click below for more details on the programs or download a loan application.
The NCMDC provides resources and technical assistance to both start-up and existing businesses looking to expand. This includes pre and post loan closing counseling to loan recipients. Throughout the year, the NCMDC and its partners also offer workshops and seminars designed to help small businesses start-up and grow. The NCMDC is also a host for SCORE and Clark University’s Small Business Development Center, both of which provide free counseling for small business owners.
The North Central Massachusetts Development Corporation (NCMDC) operates in the areas designated by the North Central Massachusetts Economic Development Council of which it is a member. The area covers all of Worcester County and parts of Middlesex County and Franklin County.
EDA Revolving Loan Program
The NCMDC established this revolving loan fund with a grant from the U.S. Economic Development Administration and matching private funds to assist small businesses and entrepreneurs with the gap financing needed to start or expand their business.
SBA Micro-Loan Program
This NCMDC capitalized this revolving fund through a loan provided by the U.S. Small Business Administration and a grant from the Commonwealth of Massachusetts.
RRF Loan Fund
The NCMDC established this loan fund using private funds and grants. Funding under this program is intended to promote economic development by leveraging private and other funding. Loans are typically made in conjunction with a bank.
Our FASTrack loan program can provide loan funds of up to $5,000 to small businesses in need of an immediate, small-dollar cash injection to help support their business.
Non-discrimination Statement:
In keeping with its economic development mission and with federal and state laws, NCMDC is committed to the principles of fair or equal opportunity lending. A consistent and high level of assistance and service will be provided to all small businesses and business owners regardless of race, national origin, religion, sex, age, marital status, disability, receipt of public assistance, or other factors. Underwriting standards will be applied fairly and consistently permitting access to credit for a broad range of customers. Applicants with equivalent credit qualifications will receive the same consideration.
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 is the lead economic development organization for the region and acts as a connector, facilitator and partner. From businesses looking to start, expand or to those looking to relocate to North Central Massachusetts, let NCMDC be the primary resource.