North Central chamber gives $15k to Worcester bakery
Crust Artisan Bakeshop receives a $15,000 loan from the North Central Massachusetts Development Corp.
Crust Artisan Bakeshop in downtown Worcester has received a $15,000 loan from the North Central Massachusetts Development Corp., the first such loan since the agency said it would begin expanding south.
Crust, a bakery serving breakfast and lunch at 118 Main St., was recently bought by a three-year employee and manager, Alexis Kelleher. It had been owned by Alec Lopez and Sherri Sadowski, the husband-and-wife team that also owns Armsby Abbey and the Dive Bar. As owner, Kelleher will also be head baker and manager.
The loan from the North Central Massachusetts Development Corp. -- the financing arm of the North Central Massachusetts Chamber of Commerce -- will help the bakery retain seven jobs and create one new one, the agency said.
It is the first loan given by the nonprofit since it said in January that it would expand to Worcester and southern Worcester County from its original territory in the northern half of the county. As a microloan lender, it can provide loans to small businesses up to $150,000 for working capital, equipment, inventory or gap financing for the final piece of a project.
In just over two decades, the North Central Massachusetts Development Corp. has given more than $4.2 million in loans to businesses in 26 communities. It is part of the Fitchburg-based North Central Massachusetts Chamber of Commerce and is the only such lender in Worcester County.
The agency's southward expansion comes as part of a new partnership between the North Central Massachusetts Chamber of Commerce and the Worcester Regional Chamber of Commerce.
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