The North Central Massachusetts Development Corporation (NCMDC) has recently granted four small business loans totaling $85,000 to Rituals Salon in Leominster, Angel Salon & Spa in Leominster, Hailey’s Takeout in Leominster, and Steel Strength and Nutrition in Worcester. The loans enabled these businesses to expand their businesses, create eight jobs, and retain ten jobs.
NCMDC granted a loan to Sarah Hawkins, owner of Rituals Salon and Day Spa, for $25,000 to assist with the purchase of the preexisting business located at 646 Central Street, Leominster. Rituals Salon and Day Spa has been an Aveda Concept Salon for over 10 years. Offering hair, nails, skin and massage services. This loan was in partnership with Workers Credit Union and NewVue Communities.
Angelica Jimenez received a loan from NCMDC for $25,000 to assist with the startup costs associated with Angel Salon and Spa. This new business will be located at 875 Merriam Ave in Leominster. NCMDC partnered with Fidelity Bank and NewVue Communities for this loan.
NCMDC granted a loan to Henry Genao for $15,000 to assist with startup costs associated with opening Hailey’s Takeout. Hailey’s Takeout is located at 301 Lancaster Street in Leominster and is a Spanish-American Takeout Restaurant.
Lauren and Zack Rohacik, owners of Steel Strength and Nutrition, were approved by NCMDC for a loan of $20,000. This loan is to assist with the purchase of inventory and for marketing costs. Small Business Development also assisted Lauren and Zack with a business plan and financial package. Steel Strength and Nutrition is your friendly neighborhood retail supplement store for all of your vitamins, minerals, and clean sports nutrition needs, located at 458 Park Ave in Worcester.
“Small businesses have proven to be the backbone of our economy, creating new jobs and investment and setting the stage for future economic growth for North Central Massachusetts,” said Roy M. Nascimento, President & CEO of the North Central Massachusetts Chamber of Commerce and the North Central Massachusetts Development Corporation. “The NCMDC plays an important role in helping provide these small businesses and entrepreneurs with the financing and technical assistance that they need to grow and create new jobs.”
As an EDA Microloan lender, NCMDC can provide loans to small businesses up to $75,000 for working capital, equipment, inventory, expansion and working with our banking partners provide gap financing for the final piece of a project.
The North Central Massachusetts Development Corporation (NCMDC) is a non-profit corporation with the mission of creating jobs and improving the economy of North Central Massachusetts. NCMDC 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. Since 1996, the NCMDC has granted over $4,200,000 in loans to small businesses to help grow jobs and the economy in 26 communities in the North Central Massachusetts region.
For more information about the NCMDC loan programs, please call 978-353-7607.