(Regional) – The North Central Massachusetts Development Corporation (NCMDC) – the economic development arm of the North Central Massachusetts Chamber of Commerce – recently approved a $50,000 loan to the Sterling Academy of Gymnastics.
The Sterling Academy of Gymnastics, owned by John and Nancy Carbone, received a $50,000 microloan for working capital for pandemic related relief and recovery as well as to help start a remote education program. The pandemic has created a number of challenges for the business, requiring John and Nancy to explore new and creative programs. With increased demand for child care services, Sterling Gym introduced a remote learning program where children can attend thier remote classes and also take advantage of the gym amenities. Sterling Gym also offers a number of other programs and classes such as gymnastics, dance, ninja challenge and martial arts. For more information visit their website at sterlinggym.com or facebook at facebook.com/sterlinggym/.
As a microloan lender, the North Central Massachusetts Development Corporation (NCMDC) can provide loans to small businesses up to $150,000 for working capital, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.
About the North Central Massachusetts Development Corporation
The North Central Massachusetts Development Corporation (NCMDC) is a non-profit economic development corporation with the mission of creating jobs and improving the economy. 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 in 76 communities in Worcester, Middlesex and Franklin Counties with loans and business assistance. Since 1996, the NCMDC has granted over $8,000,000 in loans to small businesses to help grow jobs and the economy in the region.
For more information about the NCMDC loan programs, please call 978.353.7607 or visit ChooseNorthCentral.com.