CDFA awards $844,865 for microenterprises in Laconia, other areas statewide

CONCORD — The New Hampshire Community Development Finance Authority has awarded $844,865 to assist entrepreneurs and small business owners in accessing technical assistance programs. The Community Development Block Grant Microenterprise Program award will support six economic development organizations that offer services, education, and programs for micro-businesses throughout the state.

The Microenterprise Program helps foster economic development by supporting organizations that provide entrepreneurial training and technical assistance services to low- and moderate-income micro-business owners and start-ups with fewer than five employees.

“Small businesses are a significant driver of New Hampshire’s economy,” said Katherine Easterly Martey, executive director of CDFA. “The Microenterprise Program provides the support and training necessary to empower small business owners and entrepreneurs to innovate and thrive within our communities.” 

CDFA awarded Microenterprise Program funding to Grafton and Cheshire Counties, which was divided among economic development centers including: 

• $200,000 to the Belknap Economic Development Council in Laconia. BelknapEDC will collaborate with Grafton Regional Development Council and Wentworth Economic Development Corporation to assist 70 low- to moderate-income individuals in Grafton, Belknap and Carroll counties through lending advice, one-on-one counseling and trainings geared toward small business development. 

• $134,000 to the Women’s Rural Entrepreneurial Network in Bethlehem. Technical assistance from WREN includes initiatives such as vendor readiness classes, business coaching, and computer tutorials to approximately 50 low-to-moderate income business owners.
  
  
• $71,000 for the Northern Community Investment Corporation in Lancaster. Approximately 25 start-up businesses will be able to take advantage of NCIC’s financial management and business coaching, marketing seminars, and training in customer service, among other benefits.

• $162,455 to the Hannah Grimes Center in Keene. The center will provide access for 60 microenterprises to its training, one-on-one counseling and technical assistance, as well as other services.
  
  
• $147,455 for the Regional Economic Development Center in Raymond. Activities funded include one-on-one meetings with business advisors, training in reading financial statements, and assistance with brand development and marketing. An estimated 54 low-to-moderate income small business owners will use their many resources.
  
  
• $129,955 to the New Hampshire Small Business Development Center’s Pathways to Work initiatives in Durham and Manchester. Some of the services provided to approximately 47 participants include classes on how to start a small business, e-courses on finance, and workshops on topics like marketing and accounting.

Funding for the CDBG program is provided 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, visit www.nhcdfa.org, or call 603-226-2170.