Expansion means an additional $1,000,000 revolving loan fund available for small businesses in Hillsborough and Rockingham Counties.
The New Hampshire Business Finance Authority (BFA) has expanded its partnership with the Regional Economic Development Corporation (REDC) in order to help more local businesses expand and succeed. The BFA received unanimous approval from the Governor and Executive Council this week to nearly double its line of credit to the REDC, in order to have a greater impact in the communities the agency serves.
The Regional Economic Development Center is a private, non-profit organization that offers technical assistance, financing and business development training in Hillsborough and Rockingham Counties. This expanded partnership means the BFA’s line of credit to the REDC will expand from $1.3 million to $2.3 million dollars. The increase allows more small businesses greater access to loan capital in two of New Hampshire’s largest counties.
“We are very excited about building upon the important work we’ve done with the REDC,” stated James Key-Wallace, Executive Director of the New Hampshire Business Finance Authority. “Through enhancing this line of credit, our two organizations will be able to jointly help even more small businesses access the capital they need to grow. This type of support helps the regions the REDC serves as well as the state’s economy as a whole.” – Laurel Adams
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 firstname.lastname@example.org