Areas Served: Communities of Portsmouth, Newington, New Castle, Greenland, Rye, North Hampton, Hampton, Seabrook, Kensington, Hampton Falls, and South Hampton.
CEDC offers a variety of services to businesses within the Communities of Portsmouth, Newington, New Castle, Greenland, Rye, North Hampton, Hampton, Seabrook, Kensington, Hampton Falls, and South Hampton.
Seacoast Revolving Loan Fund The CEDC Seacoast Revolving Loan Fund is used to help fill project financing gaps. Often, the funds take subordinate positions to bank financing. The application process is relatively simple and straight-forward. The loan pool can accommodate (depending on availability) loans ranging from $10,000$100,000). Generally, 1 job must be created per $10,000 loaned.
Community Development Block Grant Program New Hampshire receives annual CDBG funds through a national allotment process. CDBG funds can be used as loans to private businesses provided a regional development corporation (such as CEDC) is the subrecipient of such funds and acts as the lender into project. Most NH communities can apply for such funds, and must serve as the funding applicant. CEDC is well prepared to guide eligible business through the eligibility determination and application process. The program works best for loans between $150,000$500,000. An equal amount of other financing must be committed before CDBG funds can be approved. 1 job per $20,000 accessed through the CDBG program must be created.
USDA Intermediary Relending Program CEDC recently received a $500,000 award through the USDA/Rural Development. These funds may be used as gap financing for CEDC projects. Loans of up to $125,000 may be available for eligible economic development projects.
Contact InformationCoastal Economic Development Corporation New Hampshire
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