North Central Economic Development Association (NCEDA)

The North Central Economic Development Association (NCEDA) is a 501(c)(3) nonprofit organization established in 1986. It is an affiliate of the Region Five Development Commission (R5DC) and was founded with support from a grant from the U.S. Department of Commerce's Economic Development Administration.

Mission and Objectives

NCEDA's main objective is to foster economic growth by creating and retaining private sector jobs. The organization achieves this by providing critical financial assistance to businesses that may struggle to secure funding from traditional private capital sources. NCEDA also promotes entrepreneurship opportunities for small business owners, enhances economic activity, and supports innovative products and processes.

Services and Programs

• Business Loans: NCEDA offers various loan programs, including gap and minority business loans, designed to help businesses grow and expand.
• Small Business Support: During crises like the COVID-19 pandemic, NCEDA provided emergency lending support.
• CARES Act Funding: The organization distributed grant funds from the CARES Act for revolving loan funds.
• Household Infrastructure Loans: NCEDA provides financing for household well water and septic systems.
• Technical Assistance: Extensive technical support is available to businesses through one-on-one guidance, webinars, workshops, and recommended resources.

Impact and Role

NCEDA plays a vital role in uniting communities by providing resources and skills necessary for a prosperous local economy. The organization operates as an equal opportunity provider, lender, and employer, ensuring fair access to its services for all members of the community.

NCEDA's operations are part of a broader national initiative to support economic development, aligning with the goals of the Economic Development Administration to assist economically disadvantaged areas across the United States.

[1] https://www.northcentraleda.org/about [2] https://www.santafecountynm.gov/committees/north-central-new-mexico-economic-development-district- [3] https://www.regionfive.org/nceda [4] http://www.northcentralillinois.org [5] https://www.northcentraleda.org