MEDIA CONTACT:
Sarah Szewczyk
sarah@graftoncountyedc.org
603-536-2011
Grafton County Economic Development Council Closes First
Microloan with Local Machine Shop
BRISTOL, NH – February 25, 2016 – The Grafton County Economic Development Council
(GCEDC) has provided a loan of $5,550 to help finance the revitalization and future growth of a
small machine shop located in Bristol, NH. Its new owners, Stephen and Stephanie Fraser, will
use this investment towards the purchase of Eagle Machine’s current assets and plan to continue
the operation under the name, Newfound Industrial.
“We recently introduced a microloan program to assist micro-enterprises and small businesses in
need of smaller amounts of capital to start and grow their business,” said Bob Walker, Loan Officer
at GCEDC. “Our hope is that these smaller loan advances, starting at $1,000, will provide the
working capital needed to create large growth opportunities for the business community of Grafton
County.”
Eagle Machine has been serving the Bristol community and its surrounding region for more than
30 years. In hopes of sustaining the company’s commitment to its patrons, Newfound Industrial
will continue serving the businesses’ current list of customers while expanding its services to grow
the company and cater to new clientele.
“Now equipped with the funds to get up and running, we are continuing to provide a premium
service that meets the ever-changing needs of our customers while raising the standards for quality
and craftsmanship,” said Stephen Fraser, CEO of Newfound Industrial.
Stephen Fraser is a 2nd generation machinist and has been around this industry for as long as he
can remember. Stephen himself has worked 20 years in manufacturing and has extensive working
experience with manual machines, CNC machines, and quality improvement initiatives.
For more information about Grafton County Economic Development Council’s microloan
program and to learn how it could help support your business, please contact Chris Wellington at
cwellington@graftoncountyedc.org or visit www.graftoncountyedc.org.
About Newfound Industrial
Newfound Industrial is a machine shop located in the heart of the lakes region. With nearly 20
years of experience in machining, Newfound Industrial specializes in prototype to small
production runs for a wide variety of materials from plastics to stainless steel utilizing full design
capabilities with Mastercam. With the ability to hold tolerances of .001 and its high quality
standards, Newfound Industrial is committed to meeting the ever changing needs of its
customers. For more information, please visit http://newfoundindustrial.com.
About Grafton County Economic Development Council
GCEDC is a 501(c)3 organization founded in 1997 and is one of ten recognized Regional
Development Corporations in New Hampshire. GCEDC partners with municipalities and
businesses throughout Grafton County to promote and support economic development projects.
GCEDC has several loan programs available to businesses to help retain and create jobs in the
area. GCEDC also owns and operates the Enterprise Center at Plymouth in partnership with
Plymouth State University and the Dartmouth Regional Technology Center in partnership with
Dartmouth College and North Country Council.
Additional information on GCEDC is available on the website http://www.graftoncountyedc.org
or by contacting Chris Wellington at cwellington@graftoncountyedc.org or at (603) 536-2011.