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Guarantees
Secure a portion of a private real estate loan, providing lenders with incentives to extend credit.
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Verrillon, Inc. (formerly known as IntelCore)
MassDevelopment provided a $1 million loan participation at 6.875% for 10 years and a $500,000 mortgage guarantee to help IntelCore get a $3.75 million construction-to-permanent mortgage loan from its bank. IntelCore will build a 40,000 square foot state-of-the-art development and production facility in Grafton. |
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