Plymouth, NH – September 30, 2020 – Grafton Regional Development Corporation (GRDC) is pleased to announce that GRDC has received funds from White Mountain Gateway Economic Development Corporation (WMGEDC) to establish a new revolving loan fund focused on the Plymouth region.
Headquartered in Plymouth, NH, GRDC partners with local banks to provide Grafton County small businesses with loans to support business growth and job creation. GRDC also offers free or low-cost educational and skills-based programming through the Enterprise Center, GRDC’s business incubator in downtown Plymouth.
Founded in 2001, WMGEDC has long been committed to promoting the industrial and economic growth in the Plymouth and White Mountain regions. In recent years, the focus has shifted to providing counsel and resources for real estate development.
White Mountain Gateway was instrumental in the evolution of Mid-State Health. Using funds from Community Development Block Grant (CDBG), WMGEDC provided the loan needed to get this vital health care business established. Many years later, with the original loan paid off, WMGEDC looked for another nonprofit organization to continue and maintain a revolving loan fund with the CDBG money.
With over 20 years of experience, GRDC was a natural choice for WMGEDC to partner with and serve as facilitators of the White Mountain Gateway funds.
Bill Johnstone, President and COO of WMGEDC, had this to say: “We’re pleased that GRDC was able to take on the facilitation of these funds to the greater Plymouth and White Mountain region. We know GRDC is committed to the area’s economic development and will continue the work WMGEDC started with the same commitment. ”
“Our partnership with nonprofits like WMGEDC is vital to our mission in serving small businesses in Grafton County. Plymouth-area businesses make up 30% of our lending clients, so we’re excited to have this new resource to support economic growth in the community. We’re so grateful that WMGEDC has entrusted GRDC to put these funds to work for the benefit of local businesses”, added Anne Duncan Cooley, CEO of GRDC.
Small businesses interested in loan information should contact Grafton Regional Development Corporation at 603-536-2011 or email [email protected]. More details about all of their loan programs can be found online at graftonrdc.org/loan-programs.