MEDC Business and Commercial Finance

MEDC is a 501(c)3 nonprofit lender with funds available for businesses looking to create or retain jobs. Throughout its history, MEDC has helped invest over $14,000,000 to create and retain jobs and stimulate economic development in the Monadnock Region. Our projects account for 12% of the regional workforce.

The primary purpose of our business financing is to retain and/or create employment opportunities for area residents. We can provide financial assistance to eligible businesses in and around Cheshire and western Hillsborough County. It is designed to assist existing and new businesses with limited financing, so actual or threatened job loss can be avoided, or new employment opportunities can be created. Retention and/or expansion of the regional employment base, leveraging of additional financial resources and demonstration of the borrower’s financial ability to repay the loan term are the primary criteria.

Application Requirements

All applicants should be prepared to have detailed information to provide MEDC, including, but not necessarily limited to:

A comprehensive business plan
Historical financials
Projected financials
Specific information on project costs
Evidence of owner equity
Personal financial information (tax returns and personal financial statements) of all principals owning at least 20% of the business.

SBDC Free Business Advising

USDA Intermediary Relending Program (IRP)

MEDC has received funding awards for USDA/Rural Development to capitalize its IRP loan pool. These loans can be up to $250,000. Interest rates for this loan program are fixed and depend on the use. Real estate and equipment loans are the emphasis for this fund, however MEDC would also consider working capital loans to augment existing bank lines if adequate collateral is present.

Maximum Loan Amount: Up to $250,000; or 75% of the total cost of total project for which the loan is being made, whichever is less.

Community Development Block Grant (CDBG)

The CDBG program, administered by the NH Community Development Finance Authority and funded by the US Dept. of Housing and Urban Development is the flagship federal economic development tool available for communities across New Hampshire. As a recognized nonprofit subrecipient of these funds, MEDC can access between $150,000 - $500,000 per project for CDBG economic development loans. One job per $25,000 loaned must be created, the majority of which must go to residents from low to moderate-income households. There must be an equal amount of "other" funding in the project, such as bank debt or equity.

Rates and terms are flexible, and can be designed to help the business in a variety of different ways. Often, businesses who are planning to hire a significant number of employees find that access to CDBG funding is not only necessary (i.e. a larger funding gap), but also makes good business sense (i.e. more flexible terms).

MEDC Business and Commercial Finance

USDA Intermediary Relending Program (IRP)

Community Development Block Grant (CDBG)

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