Funding to Gardner Downtown Crossing, LLC, for development of residential apartments, restaurant

The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, today announced it has provided $250,000 to Gardner Downtown Crossing, LLC, under the NCMDC’s Regional Business Investment Fund (RBIF).

The funding will support the development of commercial space in a mixed-use building located at 25 Main Street in the city. The plans include six one-bedroom and eight two-bedroom apartments on the second and third floors, and a 5,000 square foot restaurant on the first floor.

Jonathan Bombaci, a redeveloper and owner of Gardner Downtown Crossing, is no stranger to redeveloping older, outdated buildings into modern apartments and commercial space in the city, as his team is currently redeveloping 2-10 Parker Street.

“The building at 25 Main Street is at the crossroads of downtown Gardner and provides much opportunity to develop living and dining spaces that will complement the current landscape while also providing the city with additional residents and visitors who will dine or call 25 Main their home in the future,” said Bombaci. “The RBIF is a viable lending option for us to cover costs and expenses that are typically not available for financing, and we are grateful to the North Central Development Corporation and the Chamber for offering this type of loan to us.”

The RBIF can be used by developers for engineering, soft costs, site work, infrastructure, and hard costs for specific developments in the 26 communities that make up the North Central region and differs from other loan programs offered through the NCMDC. The loans are very flexible and geared towards real estate projects, with flexible repayment terms, and can be used to cover soft costs and other expenses not traditionally covered by lenders. Also, unlike other loan programs, the RBIF can be used for housing projects and non-profits are also eligible.

The project has the support of City of Gardner Mayor Michael Nicholson and local officials, and is considered an important redevelopment project in the downtown area of the city.

“The team at Gardner Downtown Crossing has already made a significant investment in the downtown area and we are looking forward to working with them as they redevelop the property at 25 Main Street,” said Mayor Nicholson. “We are grateful that Gardner Downtown Crossing sees Gardner as a place with tremendous opportunity for growth and we will be here to help assist them toward their success along the way.

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Fitchburg, MA | Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Massachusetts Business | Economic Development  | Massachusetts Business | Economic Development | Gardner Downtown Crossing, LLC | Business Development | Business Loans | Gardner, MA

The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, recently provided financing of $50,000 to Katallage Wellness Center, located at 73 Front Street in Shirley, to support the startup costs of opening the business. The funding will help create five full-time and two part-time employees.

The Katallage Wellness Center is a holistic wellness center dedicated to improving the well-being of patients by helping to achieve a sense of balance and harmony in all aspects of life, including physical, emotional and mental health, spiritual growth and personal development.

The center was recently founded by Henri Balaguera, M.D., a physician with a strong medical background who immigrated to the U.S. from Columbia in 1993, following completion of his medical training in Bogata. Under Dr. Balaguera’s leadership, the center will provide complementary, integrative and multimodal health care treatments to identify and address the root causes of chronic diseases to help promote the whole person’s health and well-being.

“With the support of the North Central Massachusetts Development Corporation, I have the opportunity to become a business owner in my community and to offer evidence-based treatments, therapies, acupuncture and yoga as a complement to their health, mental health to achieve optimal results,” said Dr. Balaguera.

As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.

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Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | North Central Massachusetts Development Corporation (NCMDC) | Katallage Wellness Center | Microloan Lender | NCMDC Loan Programs

The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce granted financing totaling $45,000 to Deershorn Farm & Taxidermy. The funding supported the purchase of a new tractor and provided the farm with working capital.

Deershorn Farm & Taxidermy is a local vegetable farm that also provides taxidermy services. Manager Stephen A. Mudgett, who owns and operates the fourth-generation farm with his wife and daughter, grows corn and other types of vegetables which are offered at the farm’s roadside stand, located at 241 Chase Road in Lancaster, Massachusetts and at local farmers markets. During the winter months, the farm provides taxidermy services.

“The new tractor enabled us to harvest more efficiently and make our work easier,” said Mudgett. “As a family-run farm, the support of the North Central Massachusetts Development Corporation ensures we can continue to provide our community with fresh produce for generations to come.”

As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.

 

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Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | North Central Massachusetts Development Corporation (NCMDC) | Deershorn Farm & Taxidermy | Microloan Lender

Funding supports purchase of new equipment, working capital

The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, recently granted a $32,000 loan to Rise & Grind Café and Smoothie Bar. A matching loan of $32,500 was provided by the City of Fitchburg, with NewVue Communities providing guidance on business projections.

Funding will support the purchase of equipment, leasehold improvements and supplies at the business’ second location at 805 Main Street, Fitchburg, Mass. The loans enabled the business to create four new jobs.

Managers Mark P. McCaffrey and Alexander C. Schinas opened Rise and Grind Café and Smoothie Bar in 2021 located at 507 R Lancaster Street, Leominster, Mass. Upon the success of their first location, the duo decided to open a second location in downtown Fitchburg earlier this year.

“We are grateful to the community for supporting our business over the years and enjoying our smoothies at Empire Athletics,” said McCaffery. “With the support our community, the North Central Massachusetts Development Corporation, NewVue Communities and the City of Fitchburg, we were able to expand our offerings of delicious smoothies, coffee, and a variety of café foods and desserts to a second location in the heart of downtown Fitchburg.”

For more information about Rise and Grind Café and Smoothie Bar, visit www.riseandgrindcafema.com

As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.

 

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Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | North Central Massachusetts Development Corporation (NCMDC) | Rise & Grind Café and Smoothie Bar | Microloan Lender

Funding to support expansion of specialty medical spa in Hudson

The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, recently approved a $75,000 loan to Renew You MedSpa, located at The Landing at Hudson Mills, 43 Broad Street in Hudson.

Funding will enable Renew You MedSpa to design its new location and build initial inventory as well as hire one part-time employee. Founded in March 2021, the aesthetic injectables practice previously delivered services to clients’ homes before moving to its new location at The Landing. Renew You MedSpa specializes in aesthetic injectables such as Botox, derma fillers, PRP/PRF, Vitamin Therapy micro needling, and IV infusions.

Anh To Keuttner and Elizabeth LaPointe are certified aestheticians who founded Renew You MedSpa. Together, the medical spa duo has more than 30 years of medical experience. “As trained aestheticians, we are both excited at the prospect of growing our business and serving even more clients with our unique and high-quality treatments,” said Keuttner. Added LaPointe, “With the support of the North Central Massachusetts Development Corporation, we are able to finish our new location, expand our business hours, and grow our team.” Anh and Elizabeth worked with NewVue Communities to develop their business plan. Visit https://renewyoumedspama.com for more information.

As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.

 

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Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | North Central Massachusetts Development Corporation (NCMDC) | Renew You MedSpa | Microloan Lender