Emerging Technology Fund
Your company is off and running, and you’re ready to go to the next level – that’s when you come to us. The Emerging Technology Fund (ETF) is designed to help growing companies like yours find the capital you need. We work with companies located in or relocating to Massachusetts that have strong management teams, demonstrated technical developments, shown market demand for their products, and proven financial records.
The ETF makes loans of up to $2,500,000 to technology companies for acquisition, expansion, working capital, or equipment purchases. Combined with MassDevelopment’s other offerings, we can help you deliver the products essential for a thriving economy.
To qualify for the ETF program, you must be a technology company that:
- Is considering launching or expanding manufacturing operations in Massachusetts
- Seeks financing for the purchase, expansion, or improvement of real estate; the purchase of equipment; or working capital for growth
- Will receive financing from two parties other than the ETF
- Can ensure your financial investment benefits the Massachusetts economy
We help proven technology companies of all kinds looking to expand in Massachusetts, including:
- Advanced Materials
- Defense / Homeland Security
- Information Technology
- Medical Devices
- Plastics / Polymers
The Small Business Innovation Research (SBIR) Bridge Loans through the ETF are for Massachusetts-based recipients of federal SBIR grants, which are federal grants that fund research and development projects at small businesses to help them explore their technological potential. SBIR grant awardees typically wait three to nine months for their grant funds; the SBIR Bridge Loans bridge the time between the SBIR award and the time the grant is funded, increasing the value of the SBIR grants by putting the money to work faster.
- Companies that have committed federal SBIR grants may apply.
- SBIR Bridge Loan facilities may be up to $250,000.
- Loans will advance up to 90 percent of eligible grant milestone payments. Loan advances must be repaid when the SBIR grant milestone payments are received.
- MassDevelopment will take a first lien on all business assets of the borrowing companies until fully repaid.
For more information contact:
VP Commercial Lending – ETF Program
Direct: 617-405-5250 x1704