What is EDIC/Lynn?
EDIC/Lynn operates as Lynn's development bank, a nonprofit corporation established in 1977 under a state mandate. The organization is dedicated to fostering economic growth within the city by supporting existing businesses and attracting new enterprises. EDIC/Lynn provides crucial financial instruments, including loans offered at highly competitive rates, to facilitate business development and retention.
How much funding has EDIC/Lynn raised?
EDIC/Lynn has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in EDIC/Lynn
PPP
Public-Private Partnership
What's next for EDIC/Lynn?
The recent strategic investment, coupled with EDIC/Lynn's substantial total funding, positions the organization for significant future development. As a late-stage entity, this capital infusion is likely to be directed towards scaling operations, expanding its service offerings, and potentially initiating new development projects within Lynn. The focus will remain on its core mission of economic revitalization through targeted business support and investment.
See full EDIC/Lynn company page
