Features and Benefits
Eligibility
Most for-profit businesses, including start-ups on a case-by-case basis, are eligible.
Ineligible Businesses
- Nonprofits
- Businesses engaged in lending
- Passive holders of real estate (generally, the business needs to be “operating,” not an R/E investment)
- Foreign owned or located companies
- High risk industry (i.e., pyramid/gambling/speculative/etc.)
Size Guidelines
- Manufacturing – from 500 to 1,500 employees
- Wholesale – 100-250 employees services - from $2.5 million to $21.5 million in annual receipts
- Retail – from $9 million to $47 million
- General construction – from $19 million to $45 million
Loan Uses
Loan proceeds can be used for most business purposes, including:
- Working capital (including Lines of Credit via SBA Express)
- Machinery and equipment
- Furniture and fixtures
- Leasehold improvements and debt refinancing (under special conditions)
Loan maturity is up to 10 years for working capital and equipment financing and generally up to 25 years for fixed assets.
How to Apply
For more information, please contact one of the following:
For the North Region and Boston, Kevin DeVinney at 781-715-3921 or [email protected]
For the South Region and Cape Cod, Adriana Moschella at 617-639-1751 or [email protected]
For Northern MA and New Hampshire, Kelly Mulholland at 603-391-9299 or [email protected]