FY 2026
Annual Report
April 1, 2025 - March 31, 2026
REDC
REDC is a nonprofit alternative lender providing financing, business advising, and technical support to entrepreneurs, small businesses, and developers who face barriers to accessing traditional financing.
LETTER FROM THE PRESIDENT
This past year has been one of great change for the Regional Economic Development Center. We mourned the unexpected loss of the organization's long-term leader, President Laurel Adams, and later welcomed Stephanie Santos to the team as Executive Vice President, as I transitioned into the role of President. While this was a sad and difficult time for the REDC family, our team’s commitment to serving new and growing businesses and entrepreneurs in New Hampshire never wavered. I’d like to thank REDC’s Board of Directors and members of our committees for their hard work and dedication to our mission, especially during tougher days. I’d like to give a special thanks and recognition to our private and public partners who continue to support and believe in REDC’s mission; as always, we thank you for your support and trust. Finally, I must give deep, heart-felt recognition and appreciation to REDC staff, who went through a profoundly sad and challenging time together, but who came through it a cohesive and ever-more dedicated collection of professionals, whose unified goal is to make REDC a stronger organization.
As we look ahead, REDC will continue to expand access to financing, strengthen support services, and develop programs that meet the evolving needs of our communities. We remain committed to championing the entrepreneurs and businesses that make New Hampshire’s economy vibrant and resilient.
With gratitude,
Dan Gray
REDC President
Scott Zeller, Chair
Dianne Connolly, Vice Chair
Thomas Conaton, Treasurer
Robert McDonald
George Sioras
Nancy Carmer
André Garron*
Mike Decelle*
Stephen Falzone
John Randolph
Dwight Feeney
* Retired from the Board at the end of FY 2026.
Daniel Gray
President
Angel Paradis
Office Manager & Loan CoordinatorAdam Moaratty
Program CoordinatorChad Linehan
Business Advisor
We extend our well wishes to two team members who moved on to new chapters of their careers: Karla Dillon and Liz Salas.
Stephanie Santos
Executive Vice PresidentLaura Harper Lake
Graphic Designer & Design AdvisorJen Kimball
CEDS PlannerCredit Committee
Curt Murray, Needham Bank
Marc Carbonneau, Camden National Bank
Casey King, TD Bank
Matt Lambert, The Business Bank
Randy Sivigny, St. Mary’s Bank
Ryan Rothwell, Pentucket Bank
Christopher Peck, Santander Bank
Michael Arndt, Kennebunk Savings Bank
Bill Collins, Rockland TrustCEDS Committee
Nate Bernitz, UNH Cooperative Extension
Crayton Brubaker, Town of Salem
Amber-Nicole Cannan, Uncharted Tutoring
David Choate, Retired Commercial Realtor, Town of Rye
Glenn Coppelman, Evergreen Farm / Kingston
Bev Donovan, Town of Derry
Lisa Fellows-Weaver, Town of Northwood
Karen Immel, NH BEA
Maeve Nolan, WHC Greater Seacoast
Michael Polizzotti, Strafford Regional Planning
Peter Rayno, Rockland Trust Bank/ Hudson-Nashua
Elizabeth Robidoux, Town of Derry
Ben VanCamp, Chamber Collaborative of Greater Portsmouth
Darren Winham, Town of ExeterREDC President Laurel Adams passed away suddenly on July 20, 2025. During nearly 25 years with the organization, Laurel’s vision, compassion, and leadership shaped REDC into a trusted resource for entrepreneurs across New Hampshire.
A passionate advocate for small businesses and inclusive economic opportunity, Laurel helped expand REDC’s impact through new programs, partnerships, funding sources, and services. Her legacy continues through the businesses, communities, and individuals she supported throughout her career.
PROGRAMS
Financing
Financing remains the foundation of REDC’s work. In Fiscal Year 2026, REDC provided more than $6.6 million in financing to New Hampshire businesses and developers. From a $15,000 microloan to $2.4 million in financing for a major housing development project, our financing supported startups, family-owned businesses, minority-owned enterprises, New Americans, restaurants, childcare providers, and housing developers.
Collaboration continues to be essential to our success. Alongside our Revolving Loan Fund and Building Roots Home Fund, REDC partnered with commercial lenders and funding organizations, including the U.S. Small Business Administration, USDA Rural Development, U.S. Economic Development Administration, U.S. Department of Treasury CDFI Fund, Federal Home Loan Bank of Boston, NH Business Finance Authority, NH Community Development Finance Authority, and others.
Rockingham Kitchen and Bath, a REDC loan client.
New England Sweetwater Farm & Distillery, a REDC loan client.
Elite Hood Cleaning, a REDC loan client.
Business Advising
REDC’s business advising services help entrepreneurs strengthen their operations and prepare for long-term success. Our team provides guidance in business planning, financial management, loan readiness, marketing, and design.
This hands-on approach supports stronger outcomes for our clients while helping businesses access the resources and financing they need to grow. REDC also assists entrepreneurs participating in the Kiva lending platform and the Microenterprise Grant Program, as well as business owners who face barriers to traditional support systems.
REDC Program Coordinator Adam Moaratty presenting to small business owners.
Logo designed by REDC for loan client Enchanted Vines.
Kiva
Kiva is an international nonprofit that connects online lenders to entrepreneurs through an online lending platform. REDC is the Kiva Hub for New Hampshire. We assist clients with the Kiva process and provide free business advising and technical assistance, crucial for strengthening small businesses.
In the past fiscal year, REDC provided training to more than 75 small businesses on the Kiva process, and supported funding for four Kiva microloans totaling $45,000.
Village Play Cafe, a Kiva loan recipient.
Concord Union Publishing, a Kiva loan recipient.
Gnomies, a Kiva loan recipient.
Grants
It has been our pleasure to facilitate the Community Development Finance Authority’s (CDFA) Microenterprise Direct Grant program in the past year. This program offers equipment grants to low- to moderate-income businesses with five or fewer full-time employees, including the owner.
In June 2025, we closed out the 2024-2025 Microenterprise Direct Grant program year, awarding 22 grants totaling $106,178. The 2025-2026 program year is currently in process, and we expect to complete this program year on June 30, 2026, with approximately $100,000 granted.
Manchester Child Care Center, a Microenterprise Direct Grant recipient.
Dogwood Dell Consignment, a Microenterprise Direct Grant recipient.
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Jump On It, a Microenterprise Direct Grant recipient.
Housing
Through assistance from Mascoma Bank and Rockland Trust, REDC launched the Building Roots Home Fund in 2025. This program supports the development of new rental properties with a minimum of five units in New Hampshire. The fund provides loans from $500,000 to $3,000,000 to developers who are developing projects with at least 20% of the units available to people earning 80% of the Area Median Income (AMI) or less.
This past year, this fund has supported four affordable housing projects in Somersworth, Keene, Exeter, and Kingston, assisting with the creation of 250 new rental units in New Hampshire. REDC funds leveraged almost $80 million in additional investment.
Sanborn Seminary housing project, Chinburg Development.
Emerald Development receives funding for the Silk Mill housing project.
CEDS
The Comprehensive Economic Development Strategy (CEDS) is a regional roadmap for economic growth, developed through broad community engagement and strategic planning, and funded in part through a grant from the U.S. Economic Development Administration.
Following an extensive visioning process that gathered input from stakeholders throughout the region, the 2025–2029 Comprehensive Economic Development Strategy was finalized on June 27, 2025.
CEDS Steering Committee Meeting in Salem, NH.
CEDS Steering Committee Meeting in Raymond, NH.
CEDS Steering Committee Meeting in Exeter, NH.
Facts &
Figures
FY2026
Facts & Figures
$6,499,822
Dollars Loaned
$95,282,295
Dollars Leveraged
Facts & Figures
47
Jobs Created
95
Jobs Retained
Facts & Figures
245
Housing Units Created
with REDC Support
"
REDC services have contributed to the growth of my business. Thank you for everything you do to support NH business owners."
Shaunte Whitted
Owner of SDW Communications
Client Spotlight: Salt & Soul
Carrie Goodwin, owner of Salt & Soul, shares what it was like becoming a REDC loan client.
Based in New Boston, NH, Salt & Soul is a wellness studio created as a calm, supportive space to slow down, reset, and care for the body and nervous system.
Partners
Program Sponsors
Thank you for being part of REDC’s journey.
Our commitment to New Hampshire’s small businesses remains steadfast. We look forward to building on this work in the year ahead and continuing to strengthen the communities we serve.
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