When manufacturing companies thrive, our whole state benefits. At MassDevelopment, we offer everything from innovative loans for growth initiatives to long-term financing for real estate projects. We also create and support programs designed to boost Massachusetts companies.
Manufacturing in Massachusetts
Your direct connection to all of the resources available to help support and grow your business, including financing solutions, business support & assistance, building your workforce, and manufacturing news & events.
Massachusetts Manufacturing Energy Collaborative
A new initiative that helps decrease the energy bills of commercial, industrial, and municipal entities. MassMEC combines the energy usage of many companies into buying groups, then negotiates volume rates with the power supply companies for your organization. A great way to save on energy by buying in bulk thus reducing your electricity and natural gas costs.
Brownfields Redevelopment Fund
This fund provides up to $100,000 for assessment of brownfields properties in Economically Distressed Areas (EDAs). You can also get loans with flexible terms up to $500,000 to clean up contaminated sites.
These are low interest rate loans up to $100,000 with deferred repayment terms to finance predevelopment real estate projects.
These are low interest rate loans up to $50,000 with terms of up to five years, used to pay for consultant services. Eligible consultant contracts include services to evaluate and improve demand (sales and marketing), fulfillment (operations improvement), and finance and administration (strategic leadership).
Manufacturing Facilities and Equipment Financing
MassDevelopment issues tax-exempt bonds up to $10,000,000 to finance the purchase, rehabilitation, or construction of traditional manufacturing facilities and new equipment purchases. Interest on the bonds is exempt from federal taxes – and for certain bondholders also from state taxes – resulting in lower borrowing costs. Bonds may be sold in the capital markets or directly to your bank or another financial institution.
Commercial Real Estate Loan
We offer loans and bank loan participations up to $7,500,000 for facility acquisition, renovation, construction, and permanent financing of rental housing and mixed-use projects.
Mortgage Insurance Guarantee
MassDevelopment can issue a guarantee to your bank, allowing you to receive a higher advance rate on a real estate loan.
We issue specialized loans for the purchase of up to $2,000,000 in equipment.
Term Working Capital Loan
Loans may be guaranteed in a fixed amount equal to no more than 25% of the bank’s loan amount. This guarantee amortizes dollar for dollar with the underlying term loan for up to five years.
Emerging Technology Fund (ETF)
Emerging technology companies need resources to start up or expand. We provide real estate, equipment, and working capital loans and guarantees to keep the momentum going.
To help Massachusetts companies bring their products and services to markets around the globe, we offer 100% export loans and export guarantees.
Working Capital Loan Guarantee for Manufacturers
Our newest product allows banks to make larger working capital loans to manufacturing companies by providing a guarantee of up to 25% of the amount outstanding on a revolving line of credit.