skip to Main Content
InnovatorsLINK
        • Upcoming Events

          Mon 06
          Mon 06
FUNDING SOURCES

Massachusetts Regional, State, and Local Organizations

BDC Capital

Providing financing to businesses throughout New England, BDC Capital’s products include term loans, lines of credit, mezzanine capital, and more. Funding can be used for a variety of purposes, such as working capital, equipment purchases, real estate acquisition, debt restructuring, and business expansion.

The Business Development Company

Works to promote the strength and growth of small businesses by supporting companies that require funding that is unavailable through traditional sources. The Business Development Company provides loans of $90,000 to $600,000 to companies in Rhode Island, southeastern Massachusetts, and eastern Connecticut. 

The Cambridge Community Foundation

A public charity with the goal of supporting a prosperous and vibrant community in Cambridge, this organization offers grants to support nonprofit organizations that preserve the city’s strengths and address its challenges. 

Cape Cod Foundation

Administers grants to assist nonprofit organizations on Cape Cod with capacity building as well as developing or strengthening programs. The grants cover a broad range of initiatives, though the organization is particularly interested in those that support its key program areas of arts and culture; children, youth, and families; health and human services; environment; community and economic development; and housing.

Common Capital

Offers loans and technical assistance to businesses in Berkshire, Franklin, Hampden, and Hampshire counties. Common Capital loans and lines of credit can be up to $300,000 and be used for purposes like working capital, inventory, supplies, and equipment.

Commonwealth Corporation

A workforce development agency working to help youth and unemployed residents in Massachusetts to develop skills and find jobs with partnering employers. Businesses can receive grants through its Workforce Training Fund program to assist with training costs.

Franklin County Community Development Corporation

Offers financing of $5,000 to $200,000 to new and existing businesses, and partners with other loan funds and lending programs addressing specific needs of Franklin County businesses. These include programs designed to support farm and food businesses in the region.

Massachusetts Clean Energy Center

Oversees a variety of grant programs encouraging businesses to incorporate renewable energy at their facilities. The programs support the implementation of clean heating and cooling, solar, hydropower, organics-to-energy, and wind energy.

Massachusetts Growth Capital Corporation (MGCC) 

Works to support small businesses through technical assistance, education, and access to capital. Financing programs include:

  • Loans: MGCC offers term loans and lines of credit up to $1 million, as well as contract financing and guarantees; the organization is also an SBA microlender
  • Construction Contract Financing Program: A partnership with MassHousing, this program offers loans of $25,000 to $250,000 to women- or minority-owned subcontractors to cover labor, materials, and other costs and allow them to competitively participate in MassHousing contracts
  • Transformative Development Initiative: A partnership with MassDevelopment, this loan program offers amounts of between $10,000 and $100,000 to encourage investments in Massachusetts’ Gateway Cities
  • Small Business Technical Assistance Grant Program: Available to community development corporations, chambers of commerce, and other nonprofits focused on economic development, this program offers financing to support technical assistance, training, and capital access for underserved communities and Gateway Cities. The program also supports small grants to businesses through grant recipients.
  • Business resiliency programs: MGCC has established a variety of grant and matching capital programs to help Massachusetts businesses recover from COVID-19 and build their digital capacities

MassDevelopment

MassDevelopment is an organization working to stimulate business and economic growth in Massachusetts. The organization offers real estate and equipment financing for all project stages, including bond financing, grants, loans and guarantees, and tax credits.

MassHousing

Supports the development of new rental communities for mixed-income earners and rental housing for middle-income earners priced out by market conditions, as well as the preservation of existing multifamily homes. Products include construction loans, bridge loans, and subsidies.

MassVentures

The strategic venture capital team for Massachusetts, MassVentures focuses on financing for innovative early-stage companies. Funding programs open to businesses include:

Quaboag Valley Business Assistance Corporation

Assists startup and existing businesses that cannot access conventional financing with loans of up to $100,000. Businesses must do the majority of their business in a qualifying community in the Quaboag Valley region.

South Eastern Economic Development Corporation (SEED)

Provides financing and technical assistance, with larger financing initiatives offered in conjunction with local lending institutions. SEED offers SBA 504 loans as well as micro and small loans of $1,000 to $250,000.