873 Cafe Tavern receives $75K loan from North Central Mass. Development Corp.
Photo | Courtesy of North Central Massachusetts Development Corporation
From left: Brendan Hannen, micro-loan manager at the North Central Massachusetts Development Corp.; Sean Smith, owner of 873 Café Tavern, and Sandie Cataldo, economic development manager at the North Central Massachusetts Development Corp.
Sean Smith, owner of 873 Cafe Tavern in Ashby, has received a $75,000 loan through the North Central Massachusetts Development Corp., the economic development arm of the North Central Massachusetts Chamber of Commerce, the nonprofit announced on Monday.
The loan will support the restaurants’ start-up costs, provide working capital, and create six jobs, per the announcement.
Smith purchased 873 Cafe Tavern after the restaurant’s previous owners shut down in May 2020 because of pandemic-induced financial challenges. He comes to the business with an array of experience, including working as the executive chef and culinary director at The Fay Club in Fitchburg, and at Great Road Kitchen and Oyster Bar in Littleton.
NCMDC is a microloan lender which can provide small businesses with up to $250,000 to support working capital, real estate, equipment, and expansion. They can also help provide gap financing.
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