The North Central Massachusetts Development Corporation, the economic development arm of the North Central Massachusetts Chamber of Commerce, is now accepting applications for the SBA Paycheck Protection Program. Applications are limited to small businesses, sole proprietorships, independent contractors, self-employed persons, and non-profit organizations who are unable to apply through a local bank or credit union and located within our service area. The NCMDC is also limiting its PPP loans to under $50,000. Businesses and entities with an established banking relationship or with requests larger than $50,000 are encouraged to contact their bank or credit union first to apply.
The U.S. Small Business Administration’s Paycheck Protection Program offers favorable financing for small businesses to help keep their workforce employed during the Coronavirus/COVID-19 crisis. Portions of the loans are eligible to be forgiven by the SBA when used for payroll costs, interest on mortgages, rent and utilities.
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 $6,900,000 in loans to small businesses to help grow jobs and the economy in the region.
For more information or to apply for a PPP loan through the North Central Massachusetts Development Corporation, please contact Bea Lee, Economic & Loan Administrator at email@example.com or Sandie Cataldo, Economic Development Manager at 978.353.7600 x232 or via email at firstname.lastname@example.org.