Hannah Grimes Center partners offer loans to startups

April 27—A Raymond-based nonprofit has partnered with a Keene organization on a new loan fund to support businesses in the Monadnock area.

The Hannah Grimes Center Revolving Loan Fund will provide loans ranging from $5,000 to $50,000 to new businesses, as well as those looking to expand or scale, according to a press release.

The fund was launched through a collaboration between the Hannah Grimes Center for Entrepreneurship – a Keene nonprofit that helps grow area businesses for the benefit of a thriving local economy – and the Center for Economic Development. regional, serving southern New Hampshire.

Last weekend, the Hannah Grimes Center raised $160,000 in community donations for the fund with the goal of reaching $250,000, according to the press release. Businesses eligible for the loans must be in the Monadnock area, with plans to use the funds to improve employment, wages and quality of life, the statement said. The REDC will participate in the lending process through its independent committee of commercial lenders from banks throughout the Granite State.

“In distributing small grants to businesses during the pandemic, we have witnessed the outsized impact of a small cash injection into a small business,” said Mary Ann Kristiansen, executive director of the Hannah Grimes Center, in the release. . “Entrepreneurs have consistently made good investments that have helped them grow their business and we realized this was a gap in the resources we offered. We were encouraged to see our community respond generously to help to meet this need and grateful for the skills that REDC brings to lending and supporting entrepreneurs.”

The REDC is delighted to participate in this new initiative, according to its president, Laurel Adams.

“We have always been impressed with the work done by the Hannah Grimes Center and have partnered with their organization in the past to provide additional resources to their community,” she said in the statement. “This new chapter in our partnership will further assist hard-working entrepreneurs who need a boost to start or grow their business.”

Additional information about the loan fund is available through the REDC at 772-2655 or www.redc.com. More information about the Hannah Grimes Center is available at 352-5063 or www.hannahgrimes.com.

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