Emerging Technology Fund
The Massachusetts Emerging Technology Fund (ETF) targets technology companies that are starting up or expanding manufacturing in Massachusetts by providing financing for working capital, manufacturing facilities, and equipment. The ETF offers:
- Loans or loan participations up to $2,500,000
- Loan guarantees up to $1,500,000
To qualify for ETF financing:
- Borrower must be a technology company starting or expanding manufacturing operations in Massachusetts
- Financing must be for the purchase, expansion or improvement of real estate, working capital, and/or the purchase of equipment
- There must be at least two other parties at risk
- Financial investment must benefit the Massachusetts economy
Companies that receive ETF financing must have strong management teams, demonstrated technical feasibility, market demand for their products, and a proven fundraising record.
The ETF also offers loans to bridge the receipt of federal grants by advanced manufacturing companies.
- Loans of up to $500,000
- Payable in full upon receipt of federal grant
- Deferred and accrued interest due at maturity