Business Finance Authority Announces Partnership with Belknap EDC
November 18, 2020 - Governor Chis Sununu and the Executive Council have unanimously approved the New Hampshire Business Finance Authority’s (BFA) request to provide a $250,000 line of credit to the Belknap Economic Development Council (Belknap EDC) located in Laconia. The credit will provide loan capital to assist with the Belknap EDC’s mission focused on improving and increasing economic opportunities in Belknap County.
The Belknap Economic Development Council is a nonprofit regional development corporation that provides numerous economic development services to businesses and local governments throughout Belknap County. The Belknap EDC was formed in 1992 and is one of ten non-profit regional development corporations in New Hampshire.
“We are pleased to be able to provide this line of credit to the Belknap EDC,” 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 the Belknap EDC to continue its important mission of creating better economic opportunities for the New Hampshire Lakes Region’s residents and businesses.”
“We are grateful to the BFA for their support,” stated Justin Slattery the Executive Director of the Belknap EDC. We plan of using this line of credit to assist “Main Street” businesses in our community grow and succeed. This line of capital will definitely have an impact on the small business owners in Belknap County.”
The Belknap EDC provides various resources to businesses and community partners to help enhance their mission. Some of the services the Belknap EDC provides are business planning, financing, educational programs, and workforce development. The EDC is also involved in real estate development. Their more notable project involves the in-progress renovation and revitalization of the Colonial Theatre in Laconia, New Hampshire. This project will have multiple uses, a 750-seat civic auditorium, 4 retail storefronts and ten market-rate apartments.
Click HERE for more updates from Belknap EDC.
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