The New Hampshire Business Finance Authority has expanded its partnership with the Regional Economic Development Center, adding an additional $1 million available for small business loans, the BFA announced.
The BFA received unanimous approval from the governor and Executive Council last week to nearly double its line of credit to the REDC.
The Regional Economic Development Center is a private, nonprofit 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,” said James Key-Wallace, executive director of the New Hampshire Business Finance Authority, in a statement. “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.”