Granite State Economic Development Corporation (“GSDC”) is a non-profit lender authorized to process and service Small Business Administration (“SBA”) loans utilizing the 504 lending program. We are the most active certified development company (CDC) in New England and provide financing in the states of Maine, Massachusetts, New Hampshire and Vermont.
President, Alan Abraham, created GSDC in affiliation with the City of Portsmouth in 1982 upon receipt of its certification by the SBA. At this time, the lending program was known as the 503 program. It was renumbered 504 in 1987.
Initially the geographic territory was limited to 3 counties in the state of New Hampshire. In 1985, we became an independent CDC; and in 1986 expanded territory to include the entire state of New Hampshire. While expansion is restricted by SBA certification, Granite State Development has grown to provide statewide coverage for all of Northern New England.
Granite State Development is one of the largest CDCs nationwide, ranked #5 (as of FYE 2018) for volume and dollars; and has been recognized as the most active 504 lender in New England for at least the last 10 years.
Since 1990, in cooperation with our valued bank lending partners, we have participated in more than 4,000 transactions for over $1.5 billion, helping create over 20,000 jobs in New England.
We are proud to support the SBA program to assist entrepreneurs in financing their facilities and providing this important economic business development tool. Granite State Development’s mission has always been to assist small businesses to expand and grow, thereby helping the New England economy.