The Regional Economic Development Center of Southern New Hampshire (REDC) is pleased to announce the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund has issued an award in the amount of $1,826,265 to REDC through the CDFI Rapid Response Program. These funds were awarded with the purpose of supporting CDFIs responding to the economic challenges small businesses are facing from the COVID-19 pandemic, through activities such as financial products, financial services, development services, certain operational activities, and to enable CDFIs to build capital reserves and loan-loss reserves.

COVID-19 relief funds totaling $1.25 billion were recently awarded to 863 CDFIs by the U.S. Department of the Treasury. REDC is one of three recipients in New Hampshire to receive this award.

Funds from this award will allow REDC to further support New Hampshire small businesses with financial and technical assistance as they continue to recover from the effects of the pandemic. REDC President Laurel Adams stated, “REDC is extremely grateful to be awarded this critical funding. This grant award will enable REDC to support more growing and challenged businesses as they work to create and retain jobs, while dealing with the negative impacts of the COVID-19 pandemic. We have been working with a large array of businesses during the pandemic and seen first-hand how not everyone fits in the perfect box for need, and there are still a lot of small business owners who are recovering.”

U.S. Senator Jeanne Shaheen stressed how critical this funding is for New Hampshire in a recent statement: “As institutions that are designed to assist financially underserved communities in our state, New Hampshire’s CDFIs have a crucial role to play in supporting our state’s recovery from the economic impact of this pandemic,” said Senator Shaheen. “I’m very pleased to announce this funding, which will allow CDFIs to provide critical financial support that Granite State small businesses and entrepreneurs in some of our hardest-hit communities need to stay afloat and rebound from this crisis, and to make important investments in affordable housing, which is in such short supply in the state. Ensuring Granite State small businesses and communities receive the resources they need to rebuild in the aftermath of COVID-19 will continue to be a top priority for me in the Senate.”

2021 CEDS Update Complete

We are pleased to present the 2021 Comprehensive Economic Development Strategy (CEDS) This year's CEDS is the first annual update to the 2020 CEDS, which was published last June. During the 2021 CEDS planning cycle, the REDC staff, its consultants, and the Steering Committee worked to provide up-to-date demographics, information on regionally significant programs and projects, contact information on training and job development, and address other regionally significant issues that impact the CEDS member communities, businesses, and citizens. The 2021 CEDS Update is available electronically on REDC's website. Physical copies of the document are available upon request.

New REDC Loan Clients

The Regional Economic Development Center works in partnership with local lenders, or independently, to help borrowers secure the funding needed to complete projects leading to job creation. REDC has a variety of loan programs, and part of what we do is work closely with entrepreneurs to find the right fit for them, helping them obtain capital to start or grow their small businesses.

If you know of a small business in NH in need of assistance, or someone interested in starting a new business, please share REDC with them!