We’re here to help with trusted resources and support!

Supporting small businesses with the technical assistance and capital they need to start, grow and thrive is our passion.

When your business is only beginning to grow then it can be tough to get a traditional bank loan or secure the funds needed through other sources. We are here to help with trusted resources and support. We offer technical assistance and business loans up to $250,000 to help you build your business when financing is not available through traditional sources.

The North Central Massachusetts Development Corporation is 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. The 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.

Who are our loans for?

Our small business loans could be right for any kind of business, but the answer really depends on your needs and circumstances. If you are a start-up business and can’t secure a traditional loan because of your lack of history, then we may be able to help. Our loans can help you get started, build your business’s credit and prepare you for traditional financing down the road. Or perhaps, you’re an existing small business that is expanding, but you don’t have the necessary collateral or don’t have the 20% down payment required by your bank or credit union for a small business loan. We may be able to partner with your bank or credit union and provide gap financing to help.  If you don’t have access to traditional financing for your business, then a loan from the NCMDC might be a good fit for you.

Our Loans

  • Available for start-ups or existing businesses
  •  Have no minimum requirement and go up to $250,000 for Real Estate and $150,000 for Working Capital
  • Offer low interest rates that range from 1% to 7%
  • Crafted with flexible terms, including deferred payments up to 1 year, to fit your business
  • Available to small businesses in Worcester and Middlesex Counties

We also provide more than just loans, we invest in you as an entrepreneur and offer technical assistance and business education to help you succeed!

Interested in a loan? Reach out to our team to schedule an appointment to discuss your needs.

We welcome referrals from banks, credit unions and other lenders!

The NCMDC is a great resource to refer a client who doesn’t qualify for a small business loan. The majority of our loans come directly from a referral partner. Referring a loan is a win-win-win for everyone and allows you to:

  • Strengthen your reputation, retention of clients and long-term revenue
  • Qualify for CRA credit for referring unqualified leads
  • Retain the depository relationship, and secure future loans when the small business becomes bankable
  • Refer those small dollar loans that you can’t do to a trustworthy source
  • Fill in a funding gap on a larger loan that is beyond your bank’s comfort level. The NCMDC can partner on the loan and take a subordinate position on collateral to help make the loan a reality.

Contact our lending team today!

Non-discrimination Statement:

In keeping with its economic development mission and with federal and state laws, NCMDC is committed to the principles of fair or equal opportunity lending. A consistent and high level of assistance and service will be provided to all small businesses and business owners regardless of race, national origin, religion, sex, age, marital status, disability, receipt of public assistance, or other factors. Underwriting standards will be applied fairly and consistently permitting access to credit for a broad range of customers. Applicants with equivalent credit qualifications will receive the same consideration

Lending Program Success Stories