The small business administration (SBA) microloan program provides direct loans and grants to eligible non-profit microlenders so that they may provide micro-level loans, and business based training…

The North Central Massachusetts Development Corporation (NCMDC) received a $224,890 Formula Grant award on July 1, 2023 from the U.S. Small Business Administration (SBA) Microloan Program (CFDA 59.046). The SBA Microloan Program provides direct loans and grants to non-profit microlenders to offer microloans up to $50,000 and provide business training and technical assistance to start-up, newly established, and growing small businesses in underserved communities. As a non-profit community development financial institution, NCMDC will utilize the SBA Formula Grant funding to provide direct microloans and deliver business development services, including counseling and support services, to eligible small business owners and entrepreneurs located in Fitchburg, MA. The organization also previously received a $1.065 million Project Grant from the CDFI Rapid Response Program and funding from the CARES Act to expand products and services for small businesses impacted by COVID-19.

The small business administration (SBA) microloan program provides direct loans and grants to eligible non-profit microlenders so that they may provide micro-level loans, and business based training and technical assistance to start- up, newly established and growing small business concerns.