Charter School Loan Guarantee
Through the Massachusetts Charter School Loan Guarantee Fund, we provide guarantees for bank loans or tax-exempt bonds financing the acquisition, construction, or renovation of charter school facilities.
For facilities owned by the school:
- Loan guarantees cover a percentage of the first mortgage loan up to the lesser of 50% or $3 million.
- Loan advance rate may be up to 100% of the property value.
For facilities leased by the school:
- Loan guarantees cover up to the lesser of $1 million or 90% of the cost of facility improvements.
Export Guarantee
Loan guarantees on working capital lines of credit and other eligible loans.
Other international trade resources available to exporters:
- Massachusetts Export Center – One-on-one export counseling and technical assistance, export workshops, and other services.
- Massachusetts Office of International Trade and Investment – Works to expand the Massachusetts economy by marketing the state’s business internationally.
Mortgage Insurance Guarantee
MassDevelopment can provide a guarantee on a portion of a bank real estate loan or tax-exempt bond. Our guarantee covers the difference between a bank’s maximum allowable loan advance rate and up to 100% of the property value, thereby increasing the amount of financing available to your business.
Our mortgage insurance guarantee program offers:
- Loan guarantees up to $4 million
- Loan advance rates up to 100% of the value of the real estate
Guarantees are also available for charter school loans, tax-exempt bonds, loans to companies that export products to international markets, and working capital loans to manufacturers.
State Small Business Credit Initiative
MassDevelopment provides loans and guarantees funded through the State Small Business Credit Initiative (SSBCI) to support business investment. Our SSBCI program has a particular focus on SEDI businesses.