The North Central Mass. Development Corp., the economic development arm of the North Central Massachusetts Chamber of Commerce, has received a $500,000 loan from the U.S. Small Business Administration to back its lending efforts to the region’s small businesses, the nonprofit announced on Monday.
This is the third SBA loan the nonprofit has received since becoming an SBA Microloan Intermediary in 2015, according to a press release. NCMDC provides SBA loans of up to $50,000 to eligible small businesses in Central Massachusetts and has awarded nearly $1 million in SBA microloans in total.
At the same time, the North Central Massachusetts Chamber of Commerce announced the hiring of Yiongchiasider “Bea” Lee as its new economic development and loan administrator.
Lee joins the chamber from the Panther Group in Boston, where she worked as a client relationship manager.Â
Previously, she worked as an assistant branch manager at Rollstone Bank & Trust in Fitchburg. In her position with the chamber, she will be responsible for administering economic development programs and initiatives at the NCMDC.
“We are excited to welcome Bea to our team,” said Roy Nascimento, the chamber’s president & CEO, in a press release. “Bea will be a great resource to the business community as we look to support new and existing small businesses in the region.”
