L5 - REDC / Microloan Growth Program

Rockingham & Hillsborough Counties

Sponsor:
Regional Economic Development Center of Southern New Hampshire
Address:
57 Main Street
Raymond, NH 03077
Website:
www.redc.com
Description:

REDC is a nonprofit regional economic development corporation located in Southern NH. REDC serves new, growing, and challenged businesses with their service territory. Whether you need to find a lending partner, finance an expansion, or need assistance with restructuring, RECD is here to help.


REDC launched a micro enterprise counseling and lending program in 2014.  The demand for micro enterprise services and a reduction in the available funds from USDA has put a strain on REDC’s lending capital and staff time. Microloans are REDC’s most time consuming and challenging program, but also the most rewarding line of business.  REDC will use L5 funds to provide technical assistance while they ramp up their lending to sustain this work in the long run, as well as contract with grant writers and capitalization specialists to create a three year organization plan and start fundraising for the capital they need to support this growth.

Contact:

Laurel Bistany

Executive Director

laurel@redc.com

(603) 772-2655