North county, Gardner chambers to offer business microloans
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Greater Gardner Chamber of Commerce James Bellino and NCMDC President and CEO Roy Nascimento sign an agreement to offer small business loans.
Loans of up to $150,000 are now available for small companies in the Gardner area.
The North Central Massachusetts Development Corp. (NCMDC) and the Greater Gardner Chamber of Commerce announced their new partnership Friday, which will provide micro-lending resources to new and existing small businesses.
The chamber will provide the NCMDC with marketing support while the NCMDC provides the funding. NCMDC is part of the North Central Massachusetts Chamber of Commerce.
In just over 20 years, the NCMDC has granted more than $6 million in loans to small businesses in 26 North Central communities, according to a press release.
Loans made by the NCMDC can be used for working capital, leasehold improvements, machinery, equipment, furniture and fixtures, and refinancing debt. Eligible businesses include manufacturing, retail, wholesale and service businesses with five or fewer employees.
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