{"id":4852,"date":"2017-03-07T11:59:22","date_gmt":"2017-03-07T16:59:22","guid":{"rendered":"https:\/\/www.northcentralmass.com\/?p=4852"},"modified":"2025-04-24T11:51:48","modified_gmt":"2025-04-24T15:51:48","slug":"north-central-massachusetts-development-corporation-assabet-valley-chamber-commerce-partner-support-small-businesses","status":"publish","type":"post","link":"https:\/\/www.northcentralmass.com\/es\/north-central-massachusetts-development-corporation-assabet-valley-chamber-commerce-partner-support-small-businesses\/","title":{"rendered":"North Central Massachusetts Development Corporation and Assabet Valley Chamber of Commerce Partner to support Small Businesses"},"content":{"rendered":"

\"\"<\/a>The North Central Massachusetts Development Corporation (NCMDC) and the Assabet Valley Chamber of Commerce have announced a new partnership to bring additional micro lending resources closer to young companies in the Assabet Valley Region of Massachusetts.<\/p>\n

The collaboration involves the NCMDC providing start-up and existing small businesses in the Assabet Valley communities with access to its microloan financing programs, which provide loans of up to $150,000 to help businesses that may not meet the traditional lending standards.\u00a0 The Assabet Valley Chamber of Commerce will provide the NCMDC with marketing support in their communities and a presence in their Hudson office for their loan officers to counsel potential clients.<\/p>\n

\u201cWe are very pleased to be partnering with the North Central Massachusetts Development Corporation to support small businesses here in Assabet Valley,\u201d said Sarah Cressy, President & CEO of the Assabet Valley Chamber of Commerce.\u00a0\u201cThese microloans will provide entrepreneurs in our area with the capital and technical assistance they need to start or expand their business.\u201d<\/p>\n

\u201cOur microloan program has had a profound impact on our business community\u00a0in North Central Massachusetts. We have a long and successful history of supporting small businesses with financial resources and technical assistance,\u201d said Roy M. Nascimento, President & CEO of the North Central Massachusetts Development Corporation. \u201cWe are excited to partner with the Assabet Valley Chamber of Commerce to continue to expand our lending and help support the small and emerging businesses that help drive the economy forward.\u201d<\/p>\n

The North Central Massachusetts Development Corporation (NCMDC) is a non-profit corporation certified by the U.S. Small Business Administration (SBA), and the U.S. Department of the Treasury under the Community Development Financial Institutions (CDFI) Program.\u00a0The NCMDC works in partnership with local banks, credit unions, chambers of commerce and area nonprofits to support emerging microenterprises, small businesses, and community projects with loans and business assistance.\u00a0 Since 1996, the NCMDC has granted over $4.3 million in loans to small businesses to help grow jobs and the economy in 26 communities in the North Central Massachusetts region.\u00a0 In addition, these funds were leveraged with local financial institutions providing $14.8 Million of their funds and local investors and business owners providing another $3.2 Million. Thousands of new jobs have been created in the region as a result of the loans made.<\/p>\n

Microloan programs have become increasingly important to the business community since the economic collapse in 2008 that put more restrictions on how banks can serve small business loans.\u00a0Micro loans made by the NCMDC can be used for working capital, leasehold\u00a0improvements, machinery and equipment, furniture and fixtures, and refinancing of business credit card debt. Eligible businesses include manufacturing, retail, wholesale, and service businesses usually having five employees or less at the time of application and meeting the definition of small business. The interest rates are flexible, but generally close to the current fixed market rate.<\/p>\n

NCMDC loan officers will be available via appointment to serve the needs of new clients in the Assabet Valley region. To schedule an appointment, please contact the NCMDC at 978.353.7607 or contact the Assabet Valley Chamber of Commerce at info@assabetvalleychamber.org or 978.568.0360\/978.875.0197.<\/p>","protected":false},"excerpt":{"rendered":"

The North Central Massachusetts Development Corporation (NCMDC) and the Assabet Valley Chamber of Commerce have announced a new partnership to bring additional micro lending resources closer to young companies in the Assabet Valley Region of Massachusetts. The collaboration involves the NCMDC providing start-up and existing small businesses in the Assabet Valley communities with access to […]<\/p>\n","protected":false},"author":1,"featured_media":4857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,125],"tags":[],"class_list":["post-4852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ncmdc"],"yoast_head":"\nNorth Central Massachusetts Development Corporation and Assabet Valley Chamber of Commerce Partner to support Small Businesses » North Central Massachusetts Chamber of Commerce<\/title>\n<meta name=\"description\" content=\"The North Central Massachusetts Development Corporation (NCMDC) and the Assabet Valley Chamber of Commerce have announced a new partnership to bring\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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