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.
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 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
Real estate loans and bank loan participations, up to $5,000,000, can be used for facility acquisition, renovation, construction, expansion, and permanent financing.
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 $2,000,000.
Equipment loans can be used to purchase up to $2,000,000 in equipment.
MassDevelopment can provide real estate, equipment, and working capital loans and guarantees to emerging technology companies that are starting-up or expanding their manufacturing facilities in Massachusetts.
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.