MACED Opens Eastern Kentucky Office

Prestonsburg, Ky
July 2004

The Mountain Association for Community Economic Development (MACED) is pleased to announce the opening of a new office in Prestonsburg, Kentucky. The focus of the new office is business development lending and business assistance to 23 eastern Kentucky counties. Regina Becknell, business development associate, will staff the office.

Becknell is a Floyd County native who returned home four years ago with her husband to raise their two children. She comes to MACED following a successful career with the Floyd County Chamber of Commerce, in addition to working with the Morehead State University Small Business Development Center to provide one-on-one and classroom business assistance.

“I am pleased to continue my work in helping strengthen the economy in eastern Kentucky by providing needed financial and technical assistance to small businesses,” said Becknell.

MACED works with people in Kentucky and Central Appalachia to create economic opportunity, strengthen democracy and support the sustainable use of natural resources. For 27 years the organization has worked to achieve these ends through the creation of employment and ownership opportunities for low-income people by supporting small business development, grassroots social change efforts, strategic research and the protection of natural resources.

MACED offers competitive interest rates and innovative financing options by packaging loans with both public and private sources. MACED loan customers are typically unable to obtain sufficient financing from conventional sources but share MACED's commitment to building sustainable and vibrant local economies.

“We are interested in helping companies create jobs from within the community, particularly jobs that pay livable wages, build employee skills and provide benefits such as health insurance and retirement plans,” said Jonathan Harrison, MACED’s business development director.

MACED has built a $5.2 million loan fund that finances business start-ups and expansions to create jobs and support local entrepreneurs. In the past 20 years MACED has lent and leveraged over $47.9 million, directly creating over 3,200 jobs.

If you are interested in learning more about MACED, visit the new office in Prestonsburg at 113 South Central Avenue, call 606-889-0565 or visit the MACED website, www.maced.org.