MassDevelopment Rolls out New Loan Products for Emerging Technologies, Apartments, Commercial Real Estate

January 23, 2012

Contact:
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077

MassDevelopment has introduced new loan products and enhancements to existing loan products to meet demand for emerging technology businesses, rental housing, commercial real estate, and energy efficiency.

“MassDevelopment helps job creators in the Commonwealth grow more efficiently, and these new loan products will increase our backing of the Massachusetts business and nonprofit community,” said MassDevelopment President and CEO Marty Jones.

At its January Board of Directors meeting, MassDevelopment announced three new products:

• Emerging Technology Fund Term Working Capital Loan will finance staffing and other working capital needs for growing emerging technology companies, helping them increase employment and production.

To strengthen the impact of two popular MassDevelopment products, increases to the maximum dollar amounts are being offered:

• Equipment Loan: MassDevelopment will increase its maximum equipment loan to $2 million, increasing support for manufacturers investing in equipment.

For more information on these new products and other MassDevelopment offerings, visit www.massdevelopment.com or call 800-445-8030.

MassDevelopment, the state's finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.