General Info:
Capital Region Development Council is the regional development corporation that provides a variety of economic development services to businesses and local governments throughout New Hampshire. CRDC is certified to provide SBA 504 loans statewide. We also manage several small business gap financing funds in Merrimack, Sullivan and Hillsborough Counties. CRDC is a mission driven non-profit focused on providing tools that result in private sector job creation and local property tax base enhancement. In addition to small business lending CRDC also offers real estate development and economic development consulting programs. SMALL BUSINESS LOANS: CRDC provides enhancement financing to small businesses. CRDC is an approved Small Business Administration certified development company. It is certified to provide SBA 504 loans to any small business in New Hampshire. CRDC also manages five additional revolving loan funds targeted to businesses in Merrimack County, Sullivan County, Hillsborough County and downtown Concord. All of the loan programs typically require bank participation. CRDC is staffed by 5 professionals with substantial economic development and lending experience. CRDC works closely with cities and towns on strategic real estate projects. The assistance is designed to attract businesses, create jobs and enhance the property tax base. It includes business park development and building construction/redevelopment. CRDC considers participation in projects when the local community invites CRDC to participate and when it has demonstrated the financial and physical infrastructure to support economic development projects and participates financially in the project with CRDC. We typically participate in projects where private sector developers won't for a variety of market and financial reasons. CRDC provides a fee-based program of economic development services designed to assist New Hampshire's cities and towns establish or strengthen programs that result in the creation/ retention of quality jobs and enhance the commercial/industrial property tax base. Economic Development Strategic Planning Local Economic Development Committee Support Business Recruitment and Marketing Plans CDFA Community Development Block Grant Applications CDFA CDIP Tax Credit Project Applications GRANTS: CRDC works closely with the New Hampshire Community Development Finance Authority, CDFA, to identify projects, prepare funding applications, and administer projects that are suitable for Community Development Block Grant ( CDBG ) and Community Development Investment Program ( CDIP ) financial assistance. These are competitive, project specific programs that are designed to provide loan funds to job creating development projects. When successful, CRDC secures a grant from the appropriate program, loans funds to the project and capitalizes or recapitalizes an existing small business loan fund with loan payment proceeds. Additionally, CDBG can finance municipal infrastructure in support of business investment. NEW MARKET TAX CREDITS: CRDC has partnered with Coastal Enterprises, Inc ( CEI ) of Portland, Maine to package New Market Tax Credit ( NMTC ) projects. The NMTC program was established by the US Treasury to attract capital to historically underserved projects and communities. It provides an incentive to debt and equity investors in the form of a 39 percent federal income tax credit over a seven year period for investing capital into qualified projects in eligible targeted areas. CRDC has been selected by CEI as its sole New Hampshire partner to identify and structure suitable projects. Assisting Hopkinton Economic Development Committee in evaluating development opportunities for an industrial zoned area.