FITCHBURG—The ideaLab in the Fitchburg State University Theater Block continues to partner with local and regional agencies in support of small business development in the city.
Bay Colony Development Corp. President and CEO Mary Mansfield recently presented a check for $10,000 to NewVue Communities Executive Director Marc Dohan to support NewVue’s Small Business Technical Assistance Program.
Fitchburg State is redeveloping the Theater Block at 717 Main St., with the ideaLab on the second floor hosting a variety of business development initiatives in partnership with NewVue Communities. Small businesses interested in securing financing and technical assistance are encouraged to contact NewVue at 978-342-9561 or to visit their website at nvcomm.org.
The program focuses mainly on micro-enterprises (businesses with 5 or fewer employees) and very small businesses (businesses with 20 and fewer employees) and in addition to Bay Colony Development Corp. is supported by the City of Fitchburg CDBG Program, Massachusetts Growth Capital Corporation, United States Department of Agriculture, City of Gardner CDBG Program, corporate grants and private donations.
Bay Colony Development Corp. is a Certified Development Company designated by the U.S. Small Business Administration to market, process, and close SBA 504 loans in the states of Massachusetts, Vermont, Rhode Island, New Hampshire, and certain counties in Connecticut. The SBA 504 program provides up to 90 percent financing for commercial and mixed-use real estate purchases, new construction, equipment acquisitions, debt refinance and leasehold improvements.