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MassDevelopment can complement a bank's services by providing gap financing in the forms of loans, bonds, and guarantees to ensure a project's completion. Our services can help a bank's client obtain the complete financing they need for expansion, renovation, new or used equipment purchases, or a development project. As a customized lender, MassDevelopment is proud to partner with banks to provide innovative financing solutions.
Tax-Exempt Bonds — Used to finance the purchase, rehabilitation, or construction of facilities as well as new equipment purchases. Interest on the bonds is exempt from federal income taxes – and for certain bondholders is also exempt from state income taxes – resulting in lower interest rates. MassDevelopment customizes bond-structuring solutions for banks and their clients. Real Estate Loans — Provide borrowers with access to up to $5 million for facility acquisition, renovation, construction, and permanent financing. MassDevelopment leverages a bank's legal lending limit or "comfort level" on a transaction, and provides a mechanism for banks to share the risk on real estate projects of all sizes. Equipment Loans — Provide below market-rate financing of $50,000 to $1,000,000 for new equipment. TechDollars — Offer nonprofit organizations with annual revenues of $5 million or less 100% financing at below-prime rates for technology equipment purchases and installation. Guarantees — Secure a portion of a private real estate or equipment loan, providing lenders with incentives to extend credit. Exporter Financing — Offers special financing options exclusively to exporters. Available programs include 100% export loans, export loan guarantees and export credit insurance. Brownfields Redevelopment Fund — Provides up to $100,000 in financing for environmental site assessments and up to $500,000 in financing for environmental remediation. Site assessment loans are unsecured with no interest charged, and remediation loan terms are flexible. Emerging Technology Fund — Provides loans and guarantees for facilities and specialized equipment for technology-based companies. Term Working Capital — Assist small, middle-market businesses by replenishing working capital shortfalls caused by adverse business conditions.
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