Overview

With $25 million in new funding, Massachusetts’ Emerging Technology Fund is ready to help your technology-based company build new facilities, expand at your current location, make leasehold improvements or purchase new equipment. Designed to support the needs of growing companies, the fund provides loans or loan guarantees to close financing gaps for new manufacturing, research and development, and state-of-the-art or specialized equipment purchases by partnering with traditional lenders, venture capitalists and other financing sources. Under current guidelines, the maximum loan available for facilities is $2 million; for equipment, $500,000. For loan guarantees, guidelines set a $1.5 million maximum. ETF participation can not exceed 25 percent of the total project costs.

How It Works

Applications for loans can be obtained by calling (800) 445-8030 or by going online to: http://www.massdevelopment.com/financing/lg_technology.aspx.

Advantages

• Fund specializes and targets the specific needs of the emerging technology industry
• Low interest loans (or special case grants)
• $2.5 million in loans are to be distributed to each of the 5 regions of the Commonwealth
• Processing of applications is focused and fast

Eligibility

To qualify for an ETF loan or loan guarantee*, your company must:

• Be ready to grow in Massachusetts.
• Be engaged primarily in the biotechnology, medical devices, telecommunications, advanced materials, electronics, environmental or other emerging technology based industry.
• Have at least two at-risk parties, in addition to MassDevelopment.
• Have a strong management team.
• Be able to demonstrate technical feasibility, market demand for your end products and a feasible loan repayment plan.
  
  *Note that the lender is the party protected by the guarantee.