A number of government agencies and private lenders offer business loans and grants in Massachusetts. These business loans are crucial for many small businesses in the state. This article profiles some of the sources of business loans in Massachusetts.
Business Loans in Massachusetts:
Government lending programs, private lenders, banks and venture capitalists are some of the major sources of business loans in Massachusetts. Let us look at some of them briefly.
1) Massachusetts Business Development Corporation (Mass Business)
Mass Business provides loans to start-ups and entrepreneurs. This is a viable loan option for small businesses. Mass Business is a private lending organization created by venture capitalists interested in emerging technologies and innovations. Apart from business loans, Mass Business also offers equity investment options to small businesses.
2) Massachusetts Recycling Loan Fund
The Massachusetts Recycling Loan Fund aims at providing financial help to small businesses working in the area of recycling, composting etc. that need loans. Since this type of loan is considered risky, not many lenders are ready to offer it. This is where the Massachusetts Recycling Loan Fund can help. If you own a recycling firm, you can ask the Massachusetts Recycling Loan Fund for funds to help your business grow.