Educating young people is key to the future of the Massachusetts economy. MassDevelopment supports charter schools by offering a comprehensive range of programs to finance the acquisition, renovation, or construction of facilities and the purchase of equipment. We can finance projects at any stage, from predevelopment through construction and fit-up.
The Brownfields Redevelopment Fund provides financing up to $100,000 for eligible parties to undertake environmental site assessment of brownfields properties located in Economically Distressed Areas (EDAs) of Massachusetts and loans with flexible terms up to $500,000 to clean-up contaminated sites.
Predevelopment loans are low interest rate loans up to $50,000 with deferred repayment terms to finance predevelopment costs associated with real estate projects.
Real Estate Financing
MassDevelopment issues tax-exempt bonds to finance the acquisition, rehabilitation, or construction of charter schools. Interest on the bonds is exempt from federal taxes – and for certain bondholders from state taxes – resulting in lower borrowing costs. Bonds may be sold in the capital markets or directly to your bank or another financial institution.
Qualified Zone Academy Bonds (QZABs)
MassDevelopment issues QZABs for school renovations and upgrades in certain qualified school districts. QZABs are tax-credit bonds – the federal government provides a tax credit to the bondholder in lieu of the issuer paying interest to the bondholder, thereby offering the equivalent of interest-free financing.
MassDevelopment makes loans and loan participations up to $5,000,000 for charter school facility acquisition, renovation, construction, and permanent financing.
Charter school loan guarantees can guarantee a portion of a bank loan or tax-exempt bond for acquisition, construction, or renovation of owned and leased charter school facilities. The guarantee enables the private lender to advance up to 100% financing for a school-owned building and 90% financing for a leased building.
TechDollar loans provide 100% financing for technology equipment purchases and installation by nonprofit 501(c)3 organizations. Interest rates are our lowest.