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Elder-care providers are nonprofit organizations that often have trouble obtaining adequate funding. The health care and social services that they provide allow seniors to remain independent. These nonprofits rely on MassDevelopment to obtain the financing that they need to provide quality care. With goals of expanding services and outreach to eligible seniors, elder-care providers can benefit by accessing MassDevelopment's full range of programs.
Tax-Exempt Bonds — Used to acquire, renovate, or construct rental housing developments with affordable set-asides. 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. Capital Financing 501 — Provides short-term, tax-exempt commercial paper financing that can be borrowed and repaid as needed. The one-application process streamlines subsequent loan closings. TechDollars — Offer nonprofit organizations with annual revenues of $5 million or less 100% financing at below-prime rates for technology equipment purchases and installation.
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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.
Real Estate Loans — Offer loans, loan participations, and loan guarantees for facility acquisition, renovation, construction, and permanent financing. Equipment Loans — Provide below market-rate financing of $50,000 to $1,000,000 for new equipment. Guarantees — Secure a portion of a private real estate or equipment loan, providing lenders with incentives to extend credit. Taxable Bonds — Offer borrowers access to capital markets for industrial and commercial real estate projects.
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| Call 800.445.8030 or click here. |