North Central, Assabet chambers to offer microloans
Courtesy
Sarah Cressy, President & CEO of the Assabet Valley Chamber of Commerce, and Roy Nascimento, President & CEO of the North Central Massachusetts Development Corporation.
A new partnership between the North Central Massachusetts Development Corporation and the Assabet Valley Chamber of Commerce will offer microloans to new businesses in the Assabet Valley area.
The Assabet Valley Chamber of Commerce, which is based in Hudson, includes more than 30 communities, with most businesses located in Berlin, Bolton, Hudson, Maynard and Stow.
The North Central Massachusetts Development Corporation also recently expanded south to include Worcester and surrounding communities, and gave its first small-business loan in the area, for $15,000, to Worcester's Crust Artisan Bakeshop last week.
The collaboration with the Assabet Valley chamber, which was announced Tuesday, will allow businesses in the area to apply for loans of up to $150,000 if they don't meet traditional lending standards. The Assabet Valley Chamber of Commerce will provide the North Central Massachusetts Development Corporation with marketing support in their communities and a presence in their Hudson office for their loan officers to counsel potential clients.
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