Expansion means more money to help local businesses
October 10, 2019 – Governor Chis Sununu and the Executive Council have unanimously approved the New Hampshire Business Finance Authority’s (BFA) request to increase Strafford Economic Development Corporation’s (SEDC) line of credit by $1,000,000.
SEDC is a nonprofit business development corporation that assists businesses in expansion and relocation efforts primarily in the Strafford County area. SEDC manages several revolving loan funds which are utilized for business uses including: real estate acquisition, building expansion, working capital, machinery and equipment and job training.
SEDC currently has a $2,500,000 line of credit with the BFA, which has been fully deployed in the local community. By providing SEDC with additional loan capital, it will enable the organization to continue to support local businesses and continue to increase the creation and retention of quality jobs.
“We have a long and positive history with SEDC and are pleased to expand our line of credit. Both of our organizations are committed to helping businesses and organizations grow and succeed,” stated James Key-Wallace, the Executive Director of the New Hampshire Business Finance Authority. “We know that by providing additional loan capital it will assist SEDC to respond to more and larger loan requests and create jobs for their region of the state.”
About the NHBFA
The Business Finance Authority (BFA) was created to foster economic development and create employment in New Hampshire. The BFA accomplishes these objectives by working with New Hampshire’s banking, business, and economic development sectors to develop and implement programs which expand the availability of credit in the state. Our customers include manufacturers, small and medium-sized businesses, health providers, and non-profit educational and cultural organizations.
For more information about the BFA, please contact Tiffany Eddy at 603-657-6471 or tiffany@tiffanyeddy.com