Waste Recovery Companies
MassDevelopment supports the Commonwealth’s efforts to encourage recycling, source reduction, and the reuse of solid waste by providing financing for environmental and recycling businesses. Our programs offer a range of financing options for predevelopment work, equipment purchases and acquisition, construction, and/or permanent financing.
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
MassDevelopment issues tax-exempt bonds to finance the purchase, rehabilitation, or construction of waste recovery facilities as well as new equipment purchases. Interest on the bonds is exempt from federal taxes – and for certain bondholders is also exempt 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.
MassDevelopment can issue taxable bonds for industrial and commercial real estate. Taxable bonds are often used as a “tail” in a tax-exempt financing if the borrower’s needs exceed its eligibility to issue tax-exempt bonds for a particular project.
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 on bank bond purchases.
Equipment loans up to $2,000,000 can be used to purchase equipment.