Business Development Services in Northern Gateway Chamber Area

There are myriad business development and assistance services offered in the communities comprising the Northern Gateway Chamber area. The offerings can be daunting but most local economic development groups and the more regional development organizations are more than willing to shepherd businesses and interested individuals through the maze. Hopefully this webpage can help direct some of those inquiries for speedy answers to the most commonly posed questions.

The principal resource for information and referrals is Coos Economic Development Corp. located in the Old Courthouse at 148 Main Street in Lancaster. As a state-recognized, Regional Development Corporation CEDC serves as a conduit for state-assistance, a clearinghouse for information and referrals and as a subordinate lender.

CEDC also operates and manages the Lancaster Industrial Park north of the Fairgrounds on Route 3 and the Lancaster Loan Fund Guarantee program backed by a town. As an RDC CEDC is a principal applicant for (CDBG) Community Development Block Grant funding for new or expanding business. These HUD (Housing and Urban Development) funds are granted to municipalities for businesses that commit to job creation or retention (at a rate of 1 job per $20,000). The funds are granted to the towns, subgranted to CEDC and loaned to the business with repayment helping to capitalize the Coos Revolving Loan Fund which helps other businesses. CDBG loan are available up to $500,000 and must be matched dollar for dollar with commercial bank financing. Call: CEDC AT 788-3900 or email at cedc@ncia.net

Lancaster Loan Fund Guarantee

The Town of Lancaster committed about $140,000 to provide loan guarantees to banks investing in small businesses in the town. Inquiries are made to CEDC along with a copy of the approved loan request to a bank. The guarantee request is voted on by the Lancaster Board of Selectmen. Guarantees are for five years which helps lessen the risk for the bank lender. Call: CEDC at 788-3900 or email at cedc@ncia.net

Community Reinvestment Opportunity Zones (CROP Zones)

This state program allows communities to identify areas for development wherein a business can receive five years of credits toward state Business Profit and Business Enterprise Taxes. These tax credits allow a business to invest savings into the development costs of a project. In Coos County the towns of Berlin, Colebrook and Groveton have established CROP Zones. Call: CEDC at 788-3900 or email at cedc@ncia.net

State Jobs Grant

For businesses that create new jobs a State Jobs Grant provides a one-time payment based on multiples of the state's minimum wage. This is available throughout Coos County. Call: CEDC at 788-3900 or email at cedc@ncia.net

Northern Community Investment Corporation (NCIC)

This 30-year old economic development organization is the largest subordinate lender (a Community Development Finance Institution CDFI) in the three northern counties of New Hampshire and Vermont. It offers micro-loans, SBA guaranteed loans, leased equipment financing, access to USDA/Rural Development programs and more.

NCIC has a dedicated loan officer for each of the state's counties. NCIC and CEDC partner in offering CDBG grant writing and administration, subordinate lending and development services for infrastructure issues.

NCIC has strong relationships with all the region's banks and other lending organizations and also manages several small, community development organizations' revolving loan funds. The agency is a partner in a high-speed, wireless broadband development project in its 6 county area.

They can be reached at 1-802-748-5101 or at their website www.ncic.org .Alan Ruggles, at extension 11, is the Coos County lender and Jon Freeman is the agency's president and he can be reached at extension 12.

Business Enterprise Development Corporation (BEDCO)

This Community Development Finance Institution services the northern three counties of New Hampshire as a subordinate lender for new and expanding businesses.

In that capacity BEDCO partners with commercial lenders and other lending agencies to assist businesses.

Their director is Bill Andreas and they can be reached at 752-3319 or at their website at www.bedco.org


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Other groups which offer development and business counseling and start-up services to businesses and individuals include MicroCredit and Womens Rural Enterprise Network (WREN).