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.