Introducing the Mildred A. Beach Revolving Loan Fund

Est. March 2024 An innovative business financing program launched by the Wentworth Economic Development Corporation (WEDCO) honors Mildred Beach, a woman who made supporting and improving the economic vitality of the Lakes Region her life’s work. “We are delighted to honor Mildred on the occasion of her 100th birthday,” said WEDCO Executive Director Jack Terrill. “This is our first privately-financed revolving fund, and in keeping with WEDCO’s long history of supporting start-ups, WEDCO will match dollar-for-dollar the first $25,000 donated to Mildred’s Fund.” The Mildred A. Beach Revolving Loan Fund will provide a perpetual source of financing for new and existing businesses in the eastern Lakes Region for improvements, expansion, or to fill a gap between available bank financing and a business’s needs. This money can also be used to match USDA (Unit- ed States Department of Agriculture) loans on a 25% to 75% ratio substantially increasing available financing for qualifying local businesses. “For nearly 50 years beginning in the 1940s Mildred’s work with the Lakes Region Association and other organizations positively impacted hundreds of businesses, establishing the solid economic base our region and state enjoys in this century.” “What better way to celebrate this remarkable woman than by establishing a fund in her name to perpetually support today and tomorrow’s local entrepreneurs?” asked Terrill. WEDCO is a nonprofit 501(c)(3) regional economic development corporation founded in 1993 for the sole purpose of promoting economic growth in the eastern Lakes Region. “Now 30 years may not seem like much to someone who was born in 1924, but in about 70 years WEDCO will have been in service to the area for 100 years and with WEDCO’s track record of good loan practices, so too will the Mildred A. Beach Revolving Loan Fund,” said Terrill. Donations to the Mildred A. Beach Revolving Fund may be sent to WEDCO, PO Box 641, Wolfeboro, NH 03894. To learn more about WEDCO, visit wedco-nh.org or call Jack Terrill at 603-569-4216.