With its world-renowned higher education and research institutions, Massachusetts is a leader in high technology, biotechnology, and emerging technology. MassDevelopment offers technology firms competitive financing options with a special fund for emerging technology companies. Our programs provide financial assistance for predevelopment work, facility acquisition, renovation, construction, and permanent financing, as well as equipment purchases.
Predevelopment Financing
The Brownfields Redevelopment Fund
The Brownfields Redevelopment Fund provides financing up to $100,000 for qualified 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
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 and Equipment Financing
Tax-Exempt Bonds
The American Recovery and Reinvestment Act of 2009 (Stimulus Bill) has expanded qualified manufacturing projects that can be financed with tax-exempt bonds during 2009 and 2010. In addition to traditional manufacturing, tax-exempt bonds can be used to finance facilities and equipment for:
- Technology companies
- Development of intangibles including patent, copyright, formula, process, design, know-how, format, or other similar items
- New manufacturing-related facilities located on the same site as the current manufacturing facility and of character and size commensurate with the current facility
Real Estate Loans
Real estate loans and bank loan participations, up to $5,000,000, can be used for facility acquisition, renovation, construction, expansion, and permanent financing.
Mortgage Insurance Guarantee
MassDevelopment’s mortgage insurance guarantee enables a bank to lend the difference between its loan-to value and up to 90 percent loan-to-value. The maximum guarantee is $1,000,000.
Equipment Loans
Equipment loans can be used to purchase up to $1,000,000 in equipment.
Specialty Programs
Emerging Technology Fund
MassDevelopment can provide real estate and equipment loans and guarantees to emerging technology companies that are starting-up or expanding their manufacturing facilities in Massachusetts.
Exporter Financing
MassDevelopment offers several programs, including 100% export loans, export guarantees, and credit insurance to assist companies that export or anticipate exporting their products or services internationally.
