NCMDC loans $35K to hydraulic repair startup
Photo | Courtesy of North Central Massachusetts Development Corp.
(From left) Steve Sugar, vice president of lending at the North Central Massachusetts Development Corp.; Pedro Soto-Cruz, owner of Soto Hydraulic Repair; and his wife Michel Cocuzza.
The North Central Massachusetts Development Corp. has loaned $35,000 loan to startup Soto Hydraulic Repair in Winchendon for new equipment.
The company was started by Pedro Soto-Cruz, a 20-year veteran of the hydraulic repair industry. Fitchburg nonprofit NewVue Communities’s small business assistance program helped Soto-Cruz develop his business plan.
“After two decades in hydraulic repair, I am excited to create a business of my own,” Soto-Cruz said in a Wednesday press release from NCMDC. “With support from the North Central Massachusetts Development Corporation, I now have the equipment I need to get my company off the ground.”
The company provides services to businesses in the agricultural, industrial, transportation and manufacturing industries.
The North Central Massachusetts Development Corp. is the economic development arm of the North Central Massachusetts Chamber of Commerce. The NCMDC is a microloan lender that can provide loans of up to $250,000 for working capital, real estate, equipment, inventory, expansion, and working with banking partners to provide gap financing.
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