Lakes Region loan fund for small businesses wins USDA support

Wentworth Economic Development Corp. to launch $600,000 initiative

Business Support1200The Wolfeboro-based Wentworth Economic Development Corp. has received a $600,000 federal loan from the U.S. Department of Agriculture to help it establish a loan fund designed to aid Lakes Region small businesses.

The loan, awarded by USDA’s Intermediary Relending Program, was announced by three members of New Hampshire’s congressional delegation – U.S. Sens. Jeanne Shaheen and Maggie Hassan and 1stDistrict Congressman Chris Pappas.

They said the funds will eventually help 16 rural businesses retain 60 full-time jobs and create 30 new jobs.

“Granite State small businesses need access to capital to weather the economic impact of Covid-19, return to normal operations and continue to develop and grow,” said Shaheen. “These new federal funds for WEDCO are an important investment that will support Lakes Region businesses, sustain and create jobs and strengthen our state’s recovery from this crisis.”

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