NCMDC loans Leominster beauty salon $13K for equipment and operating costs
Photo | Courtesy of North Central Massachusetts Chamber of Commerce
From left: Mayor Dean Mazzarella of the City of Leominster; Sandie Cataldo, senior economic development manager at the NCMDC; Nadia Ruiz, owner of Beauty Empire; Jacqueline Mastrangelo, small business advisor at NewVue Communities; and Maribel Cruz, economic development manager at the NCMDC
The North Central Massachusetts Development Corp. in Fitchburg approved a $13,000 loan to Beauty Empire, a Leominster beauty salon owned by Nadia Ruiz.
Ruiz will use the funding toward the purchase of equipment, leasehold improvements, inventory, and working capital, according to a press release from the North Central Massachusetts Chamber of Commerce.
“I immigrated to the United States from Uruguay in 2014 and became a U.S. citizen in September 2022,” Ruiz said in the press release. “As I have grown my clientele while working at Divinity Hair Spa, I saw an opportunity to open my own salon, and I am grateful to the North Central Massachusetts Development Corporation and NewVue Communities for helping me open the doors.”
NewVue Communities, a Fitchburg-based community development corporation serving North Central Massachusetts communities, helped Ruiz to develop a business plan.
NCMDC, the lending arm of the North Central Massachusetts Chamber of Commerce, ranked third among U.S. Small Business Administration microlenders in Massachusetts in 2022, approving 10 loans totaling $247,000 in the fiscal year.
NCMDC can provide loans to small businesses up to $250,000, as part of its relationship with the SBA.
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