RIEDC Awards $225,000 Small Business Loan Fund to Nationwide Diesel Technologies, Inc.
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November 17, 2009 | Print this page | Share This |
New “Trades Training Center of Rhode Island” to be Established in Quonset/Davisville
The Rhode Island Economic Development Corporation (RIEDC) today announced that Nationwide Diesel Technologies, Inc (NDT) has been awarded a $225,000 loan by the agency’s Small Business Loan Fund. The financing will enable NDT, which operates a technical training facility in Smithfield, to open the Trades Training Center of Rhode Island, a new training center in Quonset/Davisville on February 15 and hire 15 additional employees.
“I am pleased to announce the funding of the small business loan for National Diesel Technologies,” says J. Michael Saul, interim executive director of RIEDC. “NDT came to us seeking alternative forms of working capital and we seized the opportunity to support an organization that will directly meet the technical needs of local employers, create new jobs and enhance our ability to attract and retain companies with technical workforce requirements.”
RIEDC granted the loan in recognition of the value proposition NDT brings to Rhode Island, offering nationally recognized training curriculums in specialties including: welding, pipe fitting, HVAC, diesel mechanics, CDL driver training, plumbing and more.
Several employers in the Quonset/Davisville area, including Electric Boat, Senesco and others, have voiced their interest and intent to collaborate with NDT on the creation of custom tailored programs specific to their business needs. This will reduce training time and costs, allowing employers to expand their talent pool by hiring ready-to-work NDT graduates.
“We are excited to establish the Trades Training Center of Rhode Island as a multi-faceted facility providing cost efficient, certified training to enhance the marketability of technically oriented professionals including the unemployed, underemployed and returning armed forces personnel,” says Alan LaBonte, Administrative Director of the Trades Training Center of Rhode Island. “Area companies are interested in collaborating with us and utilizing this new facility to fulfill specific business needs, address shortages and increase productivity.”
About the RIEDC SBLF
The RIEDC Small Business Loan Fund is specifically targeted for businesses looking for a direct, fully-secured loan and provides funding up to $250,000. The terms are flexible with up to 10 years for repayment.
About Nationwide Diesel Technologies, Inc.
NDT was established in 1968 and is a family owned and operated training school. http://nationwidedieseltech.com/
