$200K loaned to North Central businesses
Courtes NCMDC
NCMDC granted a $44,000 loan to Dr. Michelle Bianco, owner of Mid-State Mobile Veterinary Clinic, to assist with the purchase of a state of the art digital x-ray machine
The North Central Massachusetts Development Corporation (NCMDC) has recently granted three small business loans totaling $194,000 to help selected businesses expand while retaining 60 jobs in the region, the organization announced Thursday.
The loans were granted to Mid-State Mobile Veterinary Clinic in Barre; Economy Paint and Supply in Leominster; and Il Forno Restaurant in Fitchburg.
NCMDC granted a $44,000 loan to Dr. Michelle Bianco, owner of Mid-State Mobile Veterinary Clinic, to assist with the purchase of a state of the art digital x-ray machine, which would complete the digital upgrade of her new mobile unit that makes house calls. The loan will help retain two jobs.
Economy Paint and Supply, a third generation family-owned business run by cousins Ralph and Matthew Epstein, received a $75,000 loan, which will enable the cousins to purchase assets from the previous generation, allowing them to continue to operate their successful business.
The loan to Il Forno Restaurant was for $75,000. Il Forno has two locations -- Airport Road in Fitchburg and West Boylston Street in West Boylston. This loan will provide working capital and help to retain nine full-time jobs and 67 part-time jobs between both locations.
As a microloan lender, NCMDC provides loans to small businesses of up to $75,000 for working capital, equipment, inventory and expansion. The lender works with banking partners provide gap financing for the final piece of a project.
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