FITCHBURG, MA – Today, Congressman Jim McGovern (MA-02) and Congresswoman Niki Tsongas (MA-03) joined business and community leaders at the North Central Massachusetts Chamber of Commerce (NCM) in Fitchburg to announce that the NCM’s Development Corporation has been designated by the U.S. Small Business Administration (SBA) as a Microlender for local small businesses. The SBA presented the NCM’s Development Corporation with a check of $500,000 for the microloan program.
“Supporting our small businesses is key to helping our community succeed. I’m proud to join Congresswoman Tsongas and all of our local leaders to celebrate this new opportunity for the North Central Massachusetts Chamber of Commerce and our local businesses,” Congressman McGovern said. “Thanks to this partnership between the Small Business Administration and the Chamber, these microloans will help our entrepreneurs and small business owners who were previously unable to get a loan. They will now be able to get a loan of up to $50,000 and this will open the door to new opportunities for our community, create new jobs, and keep our economy strong and growing. I am grateful to the SBA for their leadership and for being a strong partner in supporting all of our small businesses here in Massachusetts.”
The North Central Massachusetts Chamber of Commerce’s Development Corporation will now be able to issue loans of up to $50,000 (microloans) to small businesses who were previously unable secure funding through traditional lenders. The microloans come with technical assistance to help ensure small businesses succeed and reduce the risk of default.
The SBA Microloan program provides direct loans or grants to eligible non-profit microlenders so that they may provide micro-level loans, business training and technical assistance to start-up, newly established and growing small businesses.
Joining McGovern and Tsongas at today’s event were Roy Nascimento, President of North Central MA Chamber of Commerce; Seth Goodall, New England Regional Administrator, Small Business Administration; Robert Nelson, Massachusetts Director, Small Business Administration; State Representative Stephen DiNatale; Fitchburg Mayor Lisa Wong; Leominster Mayor Dean Mazzarella; Ray Martino, President, Simonds International; Chairman, North Central Massachusetts Development Corporation Board of Directors, and other community leaders.
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