North Central Massachusetts Development Corporation approves financing toward purchase of popular dance and performing arts studio
Paula Meola Dance and Performing Arts now known as MEM Dance Theatre
The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, recently approved a $100,000 loan to Paula Meola Dance and Performing Arts as new leadership takes over the popular studio following the retirement of Paula Meola, founder of the studio. This loan retained two full-time employees and 13 part-time employees.
Now known as MEM Dance Theatre, the studio is located at 50 Leominster Road in Sterling and was purchased by Matthew Kooyomjian and Mary Elizabeth Tinervin in early 2022. In addition to ownership, Kooyomjian coaches and manages the elite competitive dance team, and will continue his role as Administrative Manager and Director of Competitive Teams. Tinervin has served as an instructor at the studio for the past two years and has an extensive dance background, including dancing professionally in Europe, Boston and New York City, which will serve her well as a new owner.
“With a proud heritage dating back more than 20 years, the primary mission of MEM Dance Theatre is to provide a safe, fun, skilled experience for families and their children who desire to study dance and theatre arts,” said Kooyomjian. “With the funding provided by the North Central Massachusetts Development Corporation, we are able to continue Paula’s legacy of offering our community access to unique performance opportunities, and our students with dance techniques provided by talented faculty and guest artists.”
As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.
For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.