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State and non-profit agencies provide a wealth of financial programs and services designed to stimulate business growth throughout Massachusetts. In addition to general programs and services, resources are available in specific categories, including hiring and training, manufacturing, equipment and exports, and technology.

Available Resources

General Programs & Services

Massachusetts Business Resource Team (BRT)
Located at the Massachusetts Office of Business Development, BRT helps businesses identify and access state programs and services provided by BRT partners-including site selection services, permitting assistance, financing options, workforce development, technology collaborations and tax incentives.

MassDevelopment
MassDevelopment structures financing packages for manufacturers, nonprofits, small businesses and real estate developers using development funds, tax-exempt bonds and a variety of loan and guarantee programs, including:

Emerging Technology Fund (EFT) - Provides loans and guarantees for technology-based manufacturing facilities and equipment. The fund targets companies that are ready to transition from research and development to production and provides funding for buying equipment, renovating leased space or purchasing and expanding facilities.

Bond Financing Programs Tax-Exempt Bonds - Used to finance the purchase, rehabilitation or construction of facilities, as well as new equipment purchases. Interest on the bonds is exempt from federal income taxes, and for certain bondholders, is also exempt from state income taxes, resulting in lower interest rates.

Tax-Exempt Equipment Lease/Purchase Program - Provides manufacturers, nonprofit institutions, and environmental enterprises with a low-cost alternative for financing $300,000 or more in new equipment needs.

Taxable Bonds - Offer borrowers access to capital markets for industrial and commercial real estate projects.

Capital Financing 501 - Provides short-term, tax-exempt commercial paper financing that can be borrowed and repaid as needed. The one-application process streamlines subsequent loan closings.

Real Estate Loans - Provide access to up to $5 million for facility acquisition, renovation, construction and permanent financing. Equipment Loans - Provide below market-rate financing of $50,000 to $1,000,000 for new equipment.

Guarantees - Secure a portion of a private loan for real estate or equipment, providing lenders with incentives to extend credit.

Exporter Financing - Offers special financing options exclusively to exporters. Available programs include 100% export loans, export loan guarantees and export credit insurance.

Taxable Bonds - Offer borrowers access to capital markets for industrial and commercial real estate projects.

Term Working Capital - Assists small, middle-market businesses by replenishing working capital shortfalls caused by adverse business conditions.

TechDollars - Access to 100% financing at below-prime rates for technology equipment purchases and installation by nonprofit organizations with annual revenues of $5 million or less.

MassBusiness
Provides loans, investment capital, and loan guarantees for growing Massachusetts companies.

Massachusetts Office of Business Development (MOBD)
Through nine offices and five industry specialists, MOBD works with companies and municipalities to help identify state, local and private financing sources. and economic incentive programs. MOBD also assists companies in navigating and accessing the technical, human, financial, training, educational and site-finding resources necessary to expand or locate in Massachusetts.

The Massachusetts Small Business Development Center Network (MSBDC)
MSBDC network provides comprehensive services targeted to the needs of small businesses. Services are free.

U.S. Small Business Administration Finance Resources
The SBA provides a number of financial assistance programs for small businesses including 7(a), 504 and disaster assistance loans.

Securities & Investor Protection
The Securities Division, within the Office of the Secretary of the Commonwealth, works to ensure a free and competitive securities market in Massachusetts.

U.S. Securities and Exchange Commission (SEC)
The SEC offers a guide to help businesses understand how to raise capital and comply with the federal securities laws.

Loan Denials
The Division of Banks reviews small business loans, lines of credit, corporate overdraft protection and corporate credit cards that have been denied.

Hiring & Training

Workforce Training Fund (WTF)
WTF is a state fund enacted into law in July 1998 and financed entirely by Massachusetts employers. Working to ensure companies can compete in the new economy, WTF offers grants to train employees in new skills and new technology.

Commonwealth Corporation
The Commonwealth Corporation sponsors a variety of programs to assist with workforce development and staff retention, including the highly successful Building Essential Skills through Training (BEST) initiative. For more information on BEST, click here.

Work Opportunity Tax Credit (WOTC)
WOTC is a federal tax credit for employers who hire from nine targeted groups of job seekers. Credits can range from $1,200 for each new summer youth hired and $2,400 for each new adult hired to $9,000 for each new long-term family assistance recipient.

Adult and Community Learning Services (ACLS)
ACLS, a unit at the Massachusetts Department of Elementary and Secondary Education, oversees and improves no-cost basic educational services for adults in Massachusetts. Educational services range from basic literacy (including English for non-native speakers of English), math and high school equivalency (GED)/ adult diploma programs (ADP) to community planning, workplace education, and technology.

Manufacturing, Equipment & Exports

MassDevelopment
MassDevelopment structures financing packages using development funds, tax-exempt bonds and a variety of loan and guarantee programs.

Economic Stabilization Trust (EST)
EST lends working capital, term loans and lines of credit to small and medium sized manufacturing businesses in Massachusetts. By providing loans where traditional financing is not available or where credit is no longer extended, EST can help companies implement restructuring plans to create stable financial futures. The Trust's experienced staff also works hand-in-hand with management to assist in the turn-around of businesses.

MassBusiness Capital Access Program (CAP)
The Capital Access Program helps businesses qualify for equipment loans of up to $500,000 by extending cash collateral guarantees.

Loan Guarantees & Insurance for Export Firms
Provided by MassDevelopment, specialty exporter financing programs include 100% export loans, export loan guarantees and export credit insurance.

Massachusetts Capital Resource Company (MCRC)
MCRC is a source of mezzanine capital and long-term debt for Massachusetts businesses. MCRC was established in 1977 by seven Massachusetts-based life insurance companies. Its investments support growth, finance acquisitions and provide long-term working capital for middle market and emerging growth businesses.

Massachusetts Export Center
A one-stop resource, the Massachusetts Export Center helps companies achieve success in global markets. The goal is to meet the complex needs of exporters by developing and providing targeted, high-impact services delivered through a statewide network of international trade professionals.

Technology

MassDevelopment
MassDevelopment structures financing packages using development funds, tax-exempt bonds and a variety of loan and guarantee programs.

The Massachusetts Technology Collaborative (MTC)
MTC assists the research community in securing federal funding to bring new technology to market. MTC administers the John Adams Innovation Institute and the Renewable Energy Trust and works to stimulate economic activity in communities throughout the Commonwealth.

The Massachusetts Technology Development Corporation (MTDC)
MTDC is a leading edge venture capital firm that addresses the "capital gap" for start-up and expansion of early-stage technology companies operating in Massachusetts. MTDC has invested in many of Massachusetts' most promising new technology-based companies.
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