Grants will support 339 small business owners and start-ups
(Concord, N.H.) – The New Hampshire Community Development Finance Authority (CDFA) announced it has awarded $1,998,509 to assist entrepreneurs and small business owners in accessing technical assistance programs. The Community Development Block Grant (CDBG) Microenterprise Program award will support eight economic development organizations that offer services, education, and programs for micro-businesses throughout the state. The award was recently approved by the Governor and Executive Council.
The Microenterprise Program helps foster economic development by supporting organizations that provide a full range of entrepreneurial training and technical assistance services to low- and moderate-income micro-business owners and start-ups (those with fewer than five employees). CDFA’s investment in the Microenterprise Program has grown year-over-year and more than doubled since 2021, a recognition of the significant role these small businesses play in contributing to New Hampshire’s economic growth.
“Small businesses are vital to New Hampshire’s economy,” said Katherine Easterly Martey, Executive Director of the Community Development Finance Authority. “Through the Microenterprise Program, we work with dedicated local partners who provide entrepreneurs and small business owners with the tools, training, and support they need to succeed. These efforts not only foster innovation and resilience, supporting New Hampshire small businesses strengthens the fabric of our local communities by creating jobs, expanding opportunity, and driving inclusive economic growth.
CDFA awarded Microenterprise Program funding to Grafton, Cheshire, and Sullivan Counties, which was divided among economic development centers from every corner of the state, including:
$278,265 to the Belknap Economic Development Council in Laconia. Belknap EDC will provide technical assistance and training to 70 qualifying microenterprises through one-on-one counseling or mentoring to microenterprise entrepreneurs and existing micro-businesses based on an assessment of their specific needs, and referrals to other specialized services.
$161,865 for the Women’s Rural Entrepreneurial Network (WREN) in Bethlehem. WREN will assist 19 qualifying microenterprises through an extensive series of classes and workshops, as well as one-on-one advice and technical assistance, to those who want to increase their entrepreneurial knowledge and skills. WREN coordinates with other North Country micro program partners where service areas overlap.
$60,060 to Coos Economic Development Corporation (Coos EDC) in Lancaster. CoosEDC will provide technical assistance and training to 10 qualifying microenterprises through targeted, one-on-one, in-depth counseling and mentoring to microenterprise entrepreneurs and existing micro businesses based; loan qualification, application, approval and servicing; direct grants for machinery/equipment; and down payment assistance for the purchase of business-related property.
$249,810 to Grafton Regional Development Corporation (GRCD) in Plymouth. GRDC will provide technical assistance and training to 40 qualifying microenterprises through targeted, one-on-one, in-depth counseling and mentoring to microenterprise entrepreneurs and existing micro businesses; webinars, workshops and other training sessions at the Enterprise Center of Plymouth; loan qualification, application, approval and servicing; and direct grants for machinery/equipment.
$352,572 to Hannah Grimes Center, Inc in the Monadnock Region. HGC will provide technical assistance and training to 50 qualifying microenterprises through one-on-one technical assistance, direct counseling via an extensive network of expert volunteer coaches, a comprehensive suite of workshops, as well as longstanding programs such as the Incubator program, Essentials! business training course and Business Lab.
$206,312 to New Hampshire Small Business Development Center (SBDC) which is a nationally affiliated SBA program based at the UNH’s Peter T. Paul School of Business and Economics. SBDC will assist 35 qualifying unemployed clients through a full range of entrepreneurial training and technical assistance services including access to online e-courses; classes on starting and financing a business; and one-on-one coaching by an SBDC business advisor.
$536,000 to Regional Economic Development Center of Southern New Hampshire (REDC) in Raymond. REDC will provide technical assistance and training to 85 qualifying microenterprises including on-line, self-directed training; one-on-one counseling by staff and consultants; referrals to other providers; workshops and other programs; and direct grants and loans.
$153,625 to Wentworth Economic Development Corporation (WEDCO) in Wolfeboro serving southern Carroll and northern Strafford counties. WEDCO will collaborate with Makers Mill to provide technical assistance and training to 30 qualifying microenterprises including loan assistance and provide direct grants.
Funding for the Community Development Block Grant (CDBG) program is provided to New Hampshire through the U.S. Department of Housing and Urban Development. The Microenterprise Program is a subset of the CDBG Economic Development Program.
To learn more about CDFA, its impact on New Hampshire communities, and available funding resources, visit www.nhcdfa.org.
About the Community Development Finance Authority
The Community Development Finance Authority (CDFA) is a statewide nonprofit public authority focused on maximizing the value and impact of community development, economic development and clean energy initiatives throughout New Hampshire. The organization leverages a variety of financial and technical resources, including the competitive deployment of grant, loan and equity programs. Those resources include New Hampshire state tax credits, federal Community Development Block Grant resources and the CDFA Clean Energy Fund. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.
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