At MassDevelopment, we fund real estate and equipment projects for nonprofit organizations of all types. With a portfolio of financing options, competitive rates, and a skilled and experienced team, we can tailor a solution to fit every need — from predevelopment to permanent financing. Our clients include:
- Private colleges and universities
- Independent schools
- Charter schools
- Cultural institutions
- Human service providers
- Long-term care providers
- Nursing homes
The Brownfields Redevelopment Fund
This fund provides up to $100,000 for assessment of brownfields properties in Economically Distressed Areas (EPAs). 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.
Real Estate Financing
A low-cost way to acquire or construct new facilities, buy equipment, and refinance existing conventional and tax-exempt debt. The bonds can be sold in capital markets, or directly to banks and other financial institutions. Bond Fee Schedule for nonprofit institutions
Real Estate Loans
We offer loans and bank loan participations up to $7,500,000 for facility acquisition, renovation, construction, expansion, and permanent financing.
We offer loans with low tax-exempt rates to 501(c)3 institutions for real estate and equipment needs. Benefits include low up-front costs, flexible loan terms, and a simple application process.
Mortgage Insurance Guarantees
MassDevelopment can issue a guarantee to your bank, allowing you to receive a higher advance rate on a real estate loan. The maximum guarantee is $2,000,000.
The purchase, repair, and maintenance of technology are essential for any growing organization. We offer equipment loans up to $2,000,000 at attractive rates.
These are loans that provide 100% financing for equipment purchases and installation. This is a chance to benefit from our lowest available interest rates.
We offer tax-exempt lease financing for equipment purchases of $500,000 and up. You can also fund renovation and installation costs as part of the project, up to 20% of the overall financed amount.
MassDevelopment's Commonwealth Places program provides a 50-50 match up to $50,000 for crowdfunded donations to support placemaking projects throughout Massachusetts.
Massachusetts Cultural Facilities Fund
MassDevelopment supports the arts with capital grants for the acquisition, design, renovation, and construction of cultural facilities. We also offer grants for development studies. Both MassDevelopment and the Massachusetts Cultural Council administer this fund.