The Ultimate Guide to State Government Resources for Businesses in Massachusetts
What's in this guide?​
The state offers a variety of programs and services that provide support in areas like financing, licensing, tax incentives, and workforce development. Knowing where to find these resources can help streamline your business operations and maximize growth opportunities. That's what this guide is all about...
PAGE MENU
- Overview
- Tips for Getting Started
- How to do business with the government
- Financing options for small businesses in Massachusetts
- Find a State Agency
- Commonwealth Resources Available to Businesses
- Business Operations: Operate and Grow
- Physical Space: New Construction
- Physical Space: Existing Building
- Â Physical Space: Climate
Overview of State Government Resources for Businesses in Massachusetts
Welcome to the Inc413 State Government Resources for Businesses in Massachusetts, your one-stop resource centre for State Government Resources that entrepreneurs and business professionals in the 413 area can take advantage of.
Navigating the complexities of state government resources can be challenging for businesses. Whether you’re a startup, a small business, or a well-established company, understanding the available resources is crucial for growth and success. This comprehensive guide offers an in-depth look at the various state government programs, services, and initiatives designed to support businesses in Massachusetts. Our goal is to equip you with the knowledge and tools to maximize your business potential in the Commonwealth.
Tips for Getting Started
The following tips ensure that your business is well-positioned to take advantage of the wide array of resources and opportunities provided by the State of Massachusetts. To access State Government Resources for Businesses in Massachusetts, you generally need the following:
1. Business Entity Registration
- To access many state resources, your business must be legally registered in Massachusetts. This could involve filing as a corporation, LLC, or another entity type with the Secretary of the Commonwealth.Â
2. Employer Identification Number (EIN)
- An EIN, issued by the IRS, acts as a tax ID for your business. It’s required for most state resources, especially when dealing with taxes, applying for loans, or hiring employees.
3. State Tax ID Number
- If your business will be selling goods, you may need a state tax ID for sales tax purposes. This number is issued by the Massachusetts Department of Revenue (DOR) and is essential for tax-related interactions with the state.
4. Permits and Licenses
- Depending on your industry, you may need specific permits or licenses to operate legally in Massachusetts. For example, restaurants need health permits, while construction companies might need contractor licenses. These are often required to access state resources tailored to specific industries.
5. Business Plan
- A well-documented business plan is often required when applying for state grants, loans, or other financial resources. It outlines your business strategy, market analysis, financial projections, and operational structure.
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6. Good Standing Certificate
- This certificate from the Secretary of the Commonwealth proves your business is compliant with state regulations, including taxes. It’s often needed when applying for state contracts or funding.
7. Insurance Coverage
- Various state programs and resources require proof of business insurance, such as workers’ compensation, general liability, or specific industry-related coverages.Â
8. Compliance with Massachusetts Employment Laws
- Businesses must comply with state employment laws, including minimum wage, overtime, and workers’ rights regulations.Â
9. Massachusetts Supplier Diversity Office (SDO) Certification
- If your business qualifies as a minority-owned, women-owned, or veteran-owned enterprise, obtaining SDO certification can grant access to specialized state resources, including procurement opportunities and grants.
10. Access to Digital Resources
- Many state resources are accessible through online portals like Mass.gov, the Massachusetts Office of Business Development (MOBD) website, and others. Ensure you have reliable internet access and the necessary technology to navigate and use these resources effectively.
Inc413 Factoid
Did you know the State Treasury is home to the Office of Economic Empowerment, a department focused on helping Massachusetts residents gain skills to grow wealth for themselves and their communities.
Start doing Business with the Government
How to do business with the government
Consult
Consult your local Small Business Development Center or Procurement Technical Assistance Program adviser. Find your closest center at aptac-us.org
Search
Search https://beta.sam.gov to see if any federal agencies are looking for your product or service. Search the SBA SubNet database for subcontracting opportunities.
Attend
Attend an SBA district office contracting workshop. Visit sba.gov/localassistance to find your local office.
Identify
Identify your product or service number at naics.com.
Obtain
Obtain a free DUNS number at fedgov.dnb.com/ webform. A Unique Entity ID managed by Ernst & Young will replace DUNS in late 2020.
Register
Register with the System for Award Management (sam.gov).
Research
Research SBA certification programs like the 8(a), woman-owned small business, and HUBZone programs. If eligible. upload all required documents to certify.sba.gov before you submit an offer on a contract.
Financing options for small businesses in Massachusetts
Let’s talk money. Whether you’re starting from scratch or looking to scale, every entrepreneur hits the point where they ask: Where do I get the cash?
Here are some options available to you…
Small Business Administration (SBA) Loans
SBA loans are popular because they offer long-term, low-interest financing with favorable terms. The SBA 7(a) and 504 loan programs are widely accessible and can be used for various business needs, including working capital, equipment purchases, and real estate. Massachusetts has a robust network of SBA-approved lenders, making this a top choice for many small businesses.
Massachusetts Growth Capital Corporation (MGCC) Loans
MGCC is a key resource for small businesses in Massachusetts, particularly those in underserved markets. MGCC offers flexible loan products and often collaborates with local banks and community lenders to support small businesses with working capital, lines of credit, and industry-specific loans.
Bank Loans
Traditional bank loans remain a top choice due to their availability and the variety of products offered by banks and credit unions across Massachusetts. These loans are often used for expansion, purchasing equipment, or refinancing existing debt. While they typically require good credit and collateral, they offer competitive rates and are a reliable source of capital for established businesses.
State and Local Grants
Grants from the state and local governments provide non-repayable funding, making them a highly attractive option for small businesses. Massachusetts offers various grant programs targeting specific industries, such as innovation, manufacturing, and workforce development. These grants can significantly reduce financial burdens and help businesses invest in growth and innovation without increasing debt
Inc413 Factoid
Massachusetts is a hub for venture capital, particularly in the technology and biotech sectors. Boston is one of the top cities in the U.S. for venture capital investment.
How to make the most of state agencies
The Commonwealth offers an array of resources to help businesses grow in Massachusetts. To help you understand which of the X resources offered across X agencies may be applicable to your business, the available resources have been organized into categories representing the opportunities that they can assist with.
Business Operations: Operate and Grow
Advice & Education
Support with business plan development, cash flow analysis, personnel and organizational issues, conventional and non-conventional financing, marketing, international trade, SBIR and government procurement, and more!
One-to-One business advice
The Massachusetts Small Business Development Center (MSBDC) provides small business owners the tools to become successful in today’s challenging economic climate. MSBDC provides free and confidential one-to-one business advice to prospective and existing small businesses focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis.Â
Timeline: Rolling
Small Business Technical Assistance Grant Program
The Small Business Technical Assistance Grant Program expands entrepreneurial opportunity throughout the Commonwealth. These programs are designed to provide technical assistance or training programs for underserved and disadvantaged businesses with 20 employees or fewer.
Research or Commercialization
University Research and Commercialization: For concept-phase companies that have research or concept-phase technology and are working to commercialize.Â
Mass Tech - Tech & Innovation Ecosystem Grant Program ​
Description: Tech & Innovation Ecosystem Grant Program Invests in capital projects that foster technology deployment, business, talent, capital or other ecosystem support that promote growth in the state’s technology and innovation sectors. Please note this requires an academic partnership.
Timeline: Rolling
Read More…
MassTech Collaborative Research & Development Matching Grant Program
Description: Collaborative Research & Development Matching Grant Program Supports critical research & development infrastructure focused on projects that will lead to economic growth or enhanced competitiveness of Massachusetts.Â
Annual Budget: $16M
Timeline: Rolling
Read more…Â
Mass Tech Massachusetts Manufacturing Innovation Initiative
Description: Massachusetts Manufacturing Innovation Initiative provides capital cost shares to develop the next generation of advanced manufacturing technologies that align with the state’s on-going commitment to the Manufacturing USA program.Â
Annual Budget: $10M
Timeline: Rolling, quarterly review
Read More…Â
Mass Tech Digital Health Sandbox Rolling Grant Program
Description: MassTech Sandbox Rolling Grant Program: Grants to Digital health companies with MA presence.
Annual Budget: $50,000
Timeline: Rolling
Read More…
Mass Ventures START Program
Description: Provides matching grants to MA companies who have been awarded a Phase II SBIR or STTR grant. Funds must be put toward non-SBIR activities (marketing, IP protection). Â
Annual Budget: $3.225M
Timeline: Feb 1 – April 30
Read More…
Mass Ventures / Mass CEC Clean Energy Grant – Catalyst and DICES
MLSC Capital Programs
Description: Grants to non-profit universities, hospitals and incubators for projects that support the ecosystem. Additional programing has specific focus areas (therapeutics delivery, data science, women’s health) that further drive innovation/industry and academic collaboration. For these focused programs an industry partner is required as part of the application process.
Annual Budget: Up to $15 million
Timeline: Data Science& Therapeutics: August–November; Women’s Health: Oct-Jan
MLSC Massachusetts Next Generation (MassNextGen) Initiative
Description: Women-led early-stage life science companies awarded year-long customized package of support, which includes non-dilutive grant funding and access to Executive Coaches from life sciences ecosystem to refine their business strategies and raise capital. Public-private partnership between MLSC and corporate sponsors.
Annual Budget: $1,000,000
Timeline: Spring-August
Read More…
Mass Ventures Acorn
Description: Grants for principal investigators at universities and research institutions for prototyping and grants for academic researchers to prototype their inventions. Half of the awards must go to UMass affiliated researchers. Please note this requires an academic partnership.
Annual Budget: $400,000
Timeline: The RFP opens in the Fall and runs for about a month.
Read More…
Working Capital
Working Capital: Loans and investments to support the operations of businesses.
Mass Ventures Deep Tech Venture Fund
Description: Mass Ventures Deep Tech Venture Fund: Investments in technology companies. Companies are typically at the pre-seed, seed, or seed-plus stage and looking to raise $1.5-2.5 million.Â
Annual Budget: $2-5 million
Timeline: Rolling
Mass Ventures START Program
Description: Provides $100-$500k matching grants to MA companies who have been awarded a Phase II SBIR or STTR grant. Funds must be put toward non-SBIR activities (marketing, IP protection). Â
Annual Budget: $3.225 million
Timeline: Feb 1 – April 30
MassDevelopment Emerging Technology Fund
Description: Emerging Technology Fund (ETF) makes loans of up to $4 million to technology companies for acquisition, expansion, working capital, or equipment purchases.Â
Annual Budget: Loans have ranged in size from $1 million to $2.5 million
Timeline: Most transactions take an average of 3-4 months to close
MGCC SBA Microloan Program
Description: Provides financing from $5,000 to $50,000 to MA-based companies. Microloans assist working capital, or the purchase of furniture, fixtures, supplies, materials, and/or equipment. Note this is an SBA product and is subject to the SBA guidelines.
Annual Budget: New loans for FY 24Â $300,000
Timeline: On going
MGCC Small Business Lending
Description: Loans up to $1,000,000 to MA-based companies that cannot obtain traditional financing. Loans include term loans, lines of credit, contract lines and guarantees to assist companies with working capital or other business purposes. Â
Annual Budget: New loans for FY24 $15,000,000
Timeline: On going
MassDevelopment Direct Loan - Exporter Loan or Guarantee
Description: MassDevelopment offers the following programs to help companies that export or anticipate exporting products or services internationally: 100% Export Loan, 100% financing for new equipment, leasehold improvements and working capital, Loans up to $2 million, Interest-only payments for the first 12 months, Up to 7-year term and amortization. Export Loan Guarantees – Loan guarantees on working capital lines of credit and other eligible loans.
Timeline: On going.
Job Incentives
Job Incentives: Incentives for companies committed to new job creation, existing job retention, and private investment in the project.Â
MLSC Massachusetts Transition and Growth Program (MassTAG)
Description: A recruitment tool targeting life sciences companies considering their first presence in Massachusetts. Designed to attract out-of-state, international, and newly formed companies that meet MLSC’s strategic objectives to become part of the Massachusetts life sciences ecosystem.
Annual Budget: Up to $1 million
Timeline: Rolling program
MLSC Tax Incentive Program
Description: Open to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. Provides incentives to companies of all sizes looking to expand their efforts by creating new, long-term jobs in Massachusetts. Particular emphasis on regionalization and types/quality of jobs being created by applicants.
Annual Budget: Up to $30 million
Timeline: Dec.-Feb
MOBD Economic Development Incentive Program (EDIP)
Description: Tax incentive program for businesses that relocate to or undertake projects in MA that will create new jobs and private development. Â
Annual Budget: $20M ($5M of which can be refundable credits)
Timeline: Rolling, quarterly review
Equipment
Equipment: Capital equipment for businesses to expand operations into new markets.Â
Mass Tech Massachusetts Manufacturing Accelerate Program (MMAP)
Description: Capital cost share program to help MA-based small to medium-sized manufacturers prepare their businesses to meet the demands of Industry 4.0 and the manufacturing of new technologies and innovations that align with key industries in the Commonwealth.
Annual Budget: $6M
Timeline: Two program openings spaced through the fiscal yearm
Mass Tech Massachusetts Manufacturing Innovation Initiative (M2I2)
Description: Massachusetts Manufacturing Innovation Initiative (M2I2) Provides capital cost shares to develop the next generation of advanced manufacturing technologies that align with the state’s on-going commitment to the Manufacturing USA program put forth by the federal government.
Annual Budget: $10M
Timeline: Rolling, quarterly review
MGCC Biz-M-Power Matching Grant Program
Description: Innovative and quick approach to access funding for small business capital expenses such as acquisition, expansion, improvement or lease of a facility, and the purchase or lease of equipment. MGCC matches business’s crowdfunding achievements on a 2:1 basis, maximizing a company’s ability to receive as much as $60,000 or more.Â
Annual Budget: $7,500,000- remaining available $5,100,000
Timeline: On going
Description: Emerging Technology Fund (ETF) makes loans of up to $4 million to technology companies for acquisition, expansion, working capital, or equipment purchases.Â
Annual Budget: Loans have ranged in size from $1 million to $2.5 million
Timeline: Most transactions take an average of 3-4 months to close
MassDevelopment Mortgage Insurance Guarantee​
Description: Provides a guarantee on a portion of a bank real estate loan or tax-exempt bond. Covers difference between bank’s maximum allowable loan advance rate and up to 90% of the property value.
Annual Budget: Insured $14.8million in FY2022
Timeline: Most transactions take an average of 3-4 months
MGCC Small Business Lending
Description: Loans up to $1,000,000 to MA-based companies that cannot obtain traditional financing. Loans include term loans, lines of credit, contract lines and guarantees to assist companies with working capital or other business purposes. Â
Annual Budget: New loans for FY24 $15,000,000
Timeline: On going
Description: Exempt from federal taxes and in certain cases Massachusetts state taxes, tax-exempt bonds are usually the lowest interest rate option for real estate projects and new equipment purchases. Tax-exempt bonds can be sold in the capital markets or directly to your bank or another financial institution. Tax-exempt equipment financings can be structured as leases issued by MassDevelopment and purchased by financial institutions which engage in lease financing
MassDevelopment Direct Loan - Equipment
Description: Loans to help expand operations and purchase equipment: Loans or bank loan participations from $100,000 to $3 million, Fixed rate financing, Loan terms up to seven years, Loan advance rates up to 100% of the cost of new equipment, or 100% of orderly liquidation value of used equipment
Physical Space:
New Construction
New Construction: Acquiring land and building a new building to operate your business.Â
Find A Site
Acquire Land for New Construction
MassDevelopment Mortgage Insurance Guarantee
Description: Provides a guarantee on a portion of a bank real estate loan or tax-exempt bond. Covers difference between bank’s maximum allowable loan advance rate and up to 90% of the property value.
Annual Budget: Insured $14.8million in FY2022
Timeline: Most transactions take an average of 3-4 months
MassDevelopment Emerging Technology Fund
Description: Emerging Technology Fund (ETF) makes loans of up to $4 million to technology companies for acquisition, expansion, working capital, or equipment purchases.Â
Annual Budget: Loans have ranged in size from $1 million to $2.5 million
Timeline: Most transactions take an average of 3-4 months to close
MassDevelopment Property Assessed Clean Energy (PACE)
Description: Helps commercial and industrial property owners obtain private financing for energy improvements through a betterment assessment and lien on the property, sufficient to repay the financing extended by a private capital provider.
Annual Budget: $1.2M in FY22
Timeline: varies by project scope
MassDevelopment Bond:
Tax-Exempt Financing for Manufacturing
Description: Exempt from federal taxes and in certain cases Massachusetts state taxes, tax-exempt bonds are usually the lowest interest rate option for real estate projects and new equipment purchases. Tax-exempt bonds can be sold in the capital markets or directly to your bank or another financial institution. Tax-exempt equipment financings can be structured as leases issued by MassDevelopment and purchased by financial institutions which engage in lease financing
MassDevelopment Direct Loan - Commercial Real Estate
Description: Real estate loans can be used to fund facility acquisition, renovation, construction, and permanent financing.
1. Loans or bank loan participations up to $10 million
2. Construction loans, preferably made in partnership with another lender
3. Permanent loans
4. Multi-tenant, mixed use, commercial, industrial
5. Manufacturers, small business, nonprofits
6. Rental housing apartment buildings
7. Loan advance rates up to 90% of the property value
New Construction
MassDevelopment Mortgage Insurance Guarantee
Description: Provides a guarantee on a portion of a bank real estate loan or tax-exempt bond. Covers difference between bank’s maximum allowable loan advance rate and up to 90% of the property value.
Annual Budget: Insured $14.8million in FY2022
Timeline: Most transactions take an average of 3-4 months
MassDevelopment Emerging Technology Fund
Description: Emerging Technology Fund (ETF) makes loans of up to $4 million to technology companies for acquisition, expansion, working capital, or equipment purchases.Â
Annual Budget: Loans have ranged in size from $1 million to $2.5 million
Timeline: Most transactions take an average of 3-4 months to close
MassDevelopment Property Assessed Clean Energy (PACE)
Description: Helps commercial and industrial property owners obtain private financing for energy improvements through a betterment assessment and lien on the property, sufficient to repay the financing extended by a private capital provider.
Annual Budget: $1.2M in FY22
Timeline: varies by project scope
MassDevelopment Direct Loan
Commercial Real Estate
Description: Real estate loans can be used to fund facility acquisition, renovation, construction, and permanent financing. Loans or bank loan participations up to $10 million, Construction loans, preferably made in partnership with another lender, Permanent loans, Multi-tenant, mixed use, commercial, industrial, Manufacturers, small business, nonprofits, Rental housing apartment buildings, Loan advance rates up to 90% of the property value.
MassDevelopment Bond - Tax-Exempt Financing for Manufacturing
Description: Description: Exempt from federal taxes and in certain cases Massachusetts state taxes, tax-exempt bonds are usually the lowest interest rate option for real estate projects and new equipment purchases. Tax-exempt bonds can be sold in the capital markets or directly to your bank or another financial institution. Tax-exempt equipment financings can be structured as leases issued by MassDevelopment and purchased by financial institutions which engage in lease financing
Physical Space:
Existing Building
Existing Building: Acquiring, expanding, or renovating an existing building in which to operate your business.Â
Find a Building
Acquire an Existing Building
MassDevelopment Emerging Technology Fund
Description: Emerging Technology Fund (ETF) makes loans of up to $4 million to technology companies for acquisition, expansion, working capital, or equipment purchases.Â
Annual Budget: Loans have ranged in size from $1 million to $2.5 million
Timeline: Most transactions take an average of 3-4 months to close
MassDevelopment Property Assessed Clean Energy (PACE)
Description: Helps commercial and industrial property owners obtain private financing for energy improvements through a betterment assessment and lien on the property, sufficient to repay the financing extended by a private capital provider.
Annual Budget: $1.2M in FY22
Timeline: varies by project scope
MassDevelopment Underutilized Properties Program
Description: Funds projects that will improve, rehabilitate or redevelop blighted, abandoned, vacant or underutilized properties.Â
Annual Budget: $16,556,838
Timeline: One Stop timeline
MassDevelopment Mortgage Insurance Guarantee
Description: Provides a guarantee on a portion of a bank real estate loan or tax-exempt bond. Covers difference between bank’s maximum allowable loan advance rate and up to 90% of the property value.
Annual Budget: Insured $14.8million in FY2022
Timeline: Most transactions take an average of 3-4 months
MGCC Real Estate Enhancement Financing Program (REEF)
Description: Allows MA-based companies to purchase or refinance owner-occupied commercial real estate.Â
Annual Budget: New loans for FY 24Â $2,000,000
Number of Annual Awards: 4
Timeline: On going
MGCC Biz-M-Power Matching Grant Program
Description: Innovative and quick approach to access funding for small business capital expenses such as acquisition, expansion, improvement or lease of a facility, and the purchase or lease of equipment. MGCC matches business’s crowdfunding achievements on a 2:1 basis, maximizing a company’s ability to receive as much as $60,000 or more.Â
Annual Budget: $7,500,000
Timeline: On going
MassDevelopment Direct Loan
Commercial Real Estate
Description: Real estate loans can be used to fund facility acquisition, renovation, construction, and permanent financing.
- Loans or bank loan participations up to $10 million
- Construction loans, preferably made in partnership with another lender
- Permanent loans
- Multi-tenant, mixed use, commercial, industrial
- Manufacturers, small business, nonprofits
- Rental housing apartment buildings
- Loan advance rates up to 90% of the property value
MassDevelopment Bond - Tax-Exempt Financing Manufacturing
Description: Exempt from federal taxes and in certain cases Massachusetts state taxes, tax-exempt bonds are usually the lowest interest rate option for real estate projects and new equipment purchases. Tax-exempt bonds can be sold in the capital markets or directly to your bank or another financial institution. Tax-exempt equipment financings can be structured as leases issued by MassDevelopment and purchased by financial institutions which engage in lease financing
MGCC Small Business
Lending
Description: Loans up to $1,000,000 to MA-based companies that cannot obtain traditional financing. Loans include term loans, lines of credit, contract lines and guarantees to assist companies with working capital or other business purposes. Â
Annual Budget: New loans for FY24 $15,000,000
Timeline: On going
Expand or Renovate Existing Building
MassDevelopment Emerging Technology Fund
Description: Emerging Technology Fund (ETF) makes loans of up to $4 million to technology companies for acquisition, expansion, working capital, or equipment purchases.Â
Annual Budget: Loans have ranged in size from $1 million to $2.5 million
Timeline: Most transactions take an average of 3-4 months to close
MassDevelopment Property Assessed Clean Energy (PACE)
Description: Helps commercial and industrial property owners obtain private financing for energy improvements through a betterment assessment and lien on the property, sufficient to repay the financing extended by a private capital provider.
Annual Budget: $1.2M in FY22
Timeline: varies by project scope
MassDevelopment Underutilized Properties Program
Description: Funds projects that will improve, rehabilitate or redevelop blighted, abandoned, vacant or underutilized properties.Â
Annual Budget: $16,556,838
Timeline: One Stop timeline
MassDevelopment Mortgage Insurance Guarantee
Description: Provides a guarantee on a portion of a bank real estate loan or tax-exempt bond. Covers difference between bank’s maximum allowable loan advance rate and up to 90% of the property value.
Annual Budget: Insured $14.8million in FY2022
Timeline: Most transactions take an average of 3-4 months
MGCC Real Estate Enhancement Financing Program (REEF)
Description: Allows MA-based companies to purchase or refinance owner-occupied commercial real estate.Â
Annual Budget: New loans for FY 24Â $2,000,000
Number of Annual Awards: 4
Timeline: On going
MGCC Biz-M-Power Matching Grant Program
Description: Innovative and quick approach to access funding for small business capital expenses such as acquisition, expansion, improvement or lease of a facility, and the purchase or lease of equipment. MGCC matches business’s crowdfunding achievements on a 2:1 basis, maximizing a company’s ability to receive as much as $60,000 or more.Â
Annual Budget: $7,500,000
Timeline: On going
MassDevelopment Direct Loan - Commercial Real Estate
Description: Real estate loans can be used to fund facility acquisition, renovation, construction, and permanent financing.
- Loans or bank loan participations up to $10 million
- Construction loans, preferably made in partnership with another lender
- Permanent loans
- Multi-tenant, mixed use, commercial, industrial
- Manufacturers, small business, nonprofits
- Rental housing apartment buildings
- Loan advance rates up to 90% of the property value
MassDevelopment Bond - Tax-Exempt Financing Manufacturing
Description: Exempt from federal taxes and in certain cases Massachusetts state taxes, tax-exempt bonds are usually the lowest interest rate option for real estate projects and new equipment purchases. Tax-exempt bonds can be sold in the capital markets or directly to your bank or another financial institution. Tax-exempt equipment financings can be structured as leases issued by MassDevelopment and purchased by financial institutions which engage in lease financing
MGCC Small Business
Lending
Description: Loans up to $1,000,000 to MA-based companies that cannot obtain traditional financing. Loans include term loans, lines of credit, contract lines and guarantees to assist companies with working capital or other business purposes. Â
Annual Budget: New loans for FY24 $15,000,000
Timeline: On going
Physical Space
Climate
Climate Upgrades
Climate Upgrades: Make climate updates to a building in which you operate your business.Â
Property Assessed Clean Energy (PACE)
Property Assessed Clean Energy (PACE) Massachusetts is an innovative program to help commercial and industrial property owners in Massachusetts finance energy improvements.