Brownfields Redevelopment Fund
Finances the environmental assessment and remediation of brownfield sites and includes the following:
- Site Assessment: Provides unsecured, interest-free financing up to $250,000 for environmental assessment.
- Remediation Loan: Offers flexible loans up to $750,000 for environmental cleanup.
Commercial Real Estate Loan
Real estate loans can be used to fund facility acquisition, renovation, construction, and permanent financing.
Our real estate loan program offers:
- Loans or bank loan participations up to $10 million
- Construction loans, preferably made in partnership with another lender
- Permanent loans
- Multi-tenant, mixed use, commercial, industrial
- Manufacturers, small business, nonprofits
- Rental housing apartment buildings
- Loan advance rates up to 90% of the property value
Emerging Technology Fund
Your company is off and running, and you’re ready to go to the next level – that’s when you come to us. The Emerging Technology Fund (ETF) is designed to help growing companies like yours find the capital you need. We work with companies located in or relocating to Massachusetts that have strong management teams, demonstrated technical developments, shown market demand for their products, and proven financial records.
The ETF makes loans of up to $4 million to technology companies for expansion, working capital, or equipment purchases. Combined with MassDevelopment’s other offerings, we can help you deliver the products essential for a thriving economy.
Equipment Loan
If your company is expanding operations and needs to purchase equipment, MassDevelopment can help.
Our equipment loan program offers:
- Loans or bank loan participations from $100,000 to $3 million
- Fixed rate financing
- Loan terms up to seven years
- Loan advance rates up to 100% of the cost of new equipment, or 100% of orderly liquidation value of used equipment
Micro Loan
Micro loans provide financing from $5,000 to $100,000 for Massachusetts small businesses to assist with working capital, or the purchase of furniture, fixtures, supplies, materials, and/or equipment.
Eligible Businesses:
- Existing businesses that have been actively operating for at least 12 months.
- For profit businesses or nonprofit childcare businesses.
- Headquarters in Massachusetts.
Loan Terms:
- Term loan from $5,000 to $100,000
- Amortization up to 6 years
Requirements:
- Minimum personal credit score of 575
- No historical or pending charge offs by creditors permitted or existing government liens
- 2 years of tax returns; business and personal
- Lien on all business assets
- Personal guaranty (may require security)
- Certain industries are ineligible, including real estate investments
Need help with a micro loan?
Email Adam Keiser, Senior Credit Officer at akeiser@massdevelopment.com
Real Estate Enhancement Financing Program
Bringing access to capital for small business owners to purchase or refinance owner-occupied commercial real estate.
- Loan amounts up to $2 million
- Term: 5 years
- Amortization: Match the bank's first mortgage (20-25 years)
- Interest rate: Bank rate plus 2%
- Points: 1%
- Personal guaranty required of owners with 20% or greater equity
- Collateral: 2nd mortgage on subject property, position on business assets
- Guarantees: Personal and busines
- LTV: Not to exceed 90%
Requirements:
- Owner-occupied properties of at least 25% (no residential units)
- For business purposes only
- New or existing bank participation
Real Estate Tax Credit Bridge Loan
We can provide financing to bridge Massachusetts or Federal Historic Building Tax Credits, or Massachusetts Housing Development Incentive Program (HDIP) Tax Credits for your real estate project during construction.
- Loans up to $4 million
- Secured by first or second mortgage on subject property, plus assignment of tax credits
- Interest may be capitalized
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.
TechDollars
MassDevelopment offers loans from $25,000 to $500,000 to help nonprofit 501(c)(3) organizations located in Massachusetts purchase and install technology equipment. 100% of cost of purchase of new or used telecommunications and information technology equipment, software, and related installation costs.
Working Capital
Our Growth Capital Division offers a range of options to help small business owners in need of additional working capital for payroll, inventory, software subscriptions, utilities, and more.