MassDevelopment offers a special loan program to help non-profit 501(c)3 organizations purchase and install technology equipment. TechDollars offers:
- Loans from $25,000 to $250,000
- 100% of cost of purchase of new or used telecommunications and information technology equipment and installation costs
To be eligible for TechDollars financing, the:
- Borrower must be a Massachusetts 501(c)3 organization with annual revenues of $5 million or less
- Equipment purchased must be installed in facilities located in Massachusetts
Case Study – South Shore Charter School
South Shore Charter School is educating more than 525 students from 23 communities in and around Norwell. When the school needed to update its information technology systems, MassDevelopment responded with a $70,644 TechDollars loan at a below-prime interest rate. Students at South Shore Charter School are now benefiting from 70 new computer workstations.
