CDFI / Nonprofit Lender
Common Capital
LoansSBA Microloans
- Amount:
- $1,000-$300,000
- Best for:
- Small businesses; focus includes LMI entrepreneurs, people of color, women and immigrants
- Use it for:
- Working capital; inventory; equipment; startup; acquisition; expansion; eligible refinancing; leasehold improvements; business real estate
- Area:
- Western MA: Berkshire, Franklin, Hampden, Hampshire
Nonprofit Community Capital Provider
Seeding Ventures
MicroloansFlexible CapitalEquity-Fund Development
- Amount:
- Contact provider; equity initiative targets $50K-$500K gap
- Best for:
- Minority-, women-, and LGBTQ-owned businesses
- Use it for:
- Startup/working capital; inventory; operating expenses; scaling; procurement; growth
- Area:
- Greater Springfield / Massachusetts
Contact for availabilityVisit Nonprofit Economic Development Organization
Legacy Economic Development Corporation
GrantsCapital AccessCapital Readiness
- Amount:
- Varies by program
- Best for:
- Entrepreneurs, microbusinesses and small businesses
- Use it for:
- Startup/formalization; business growth; grants/loans navigation; TA
- Area:
- Springfield / Western MA
Programs vary / monitorVisit State Development Finance Agency
MassDevelopment
MicroloansLoansGuaranteesParticipations
- Amount:
- Microloans $5,000-$100,000; other products vary
- Best for:
- Eligible MA businesses; microloan generally requires MA HQ and 12+ months operating
- Use it for:
- Working capital; equipment; facilities; expansion; real estate; capital projects
- Area:
- Massachusetts
Financing ongoing; grant rounds varyVisit Nonprofit Community Lender
Valley Community Development
MicroloansLoan Readiness
- Amount:
- $1,000-$10,000
- Best for:
- Eligible for-profits, sole entrepreneurs, partnerships, LLCs and nonprofit childcare
- Use it for:
- Inventory; payroll; rent; operating expenses; equipment; fixed assets; leasehold improvements; credit building
- Area:
- Hampden, Hampshire, Franklin counties
Rolling until funds exhaustedVisit Municipal Grant Program
City of Springfield Small Business Assistance Program
Grants / Financial Assistance
- Amount:
- Varies
- Best for:
- Eligible Springfield small businesses; CDBG/program requirements
- Use it for:
- Equipment; building improvements; related development expenses
- Area:
- Springfield
Paused; City says reopening laterVisit Community Bank
New Valley Bank & Trust
Business LoansLOCCommercial Real EstateEquipment
- Amount:
- Varies
- Best for:
- Qualified businesses
- Use it for:
- Working capital; expansion; equipment; real estate
- Area:
- Greater Springfield / regional
Credit Union
Freedom Credit Union
Term LoansLOCCommercial Real EstateVehicles
- Amount:
- Varies
- Best for:
- Qualified business members
- Use it for:
- Working capital; equipment/vehicles; real estate
- Area:
- Western MA; membership eligibility applies
Community Bank
Beacon Bank
Commercial / Business Loans
- Amount:
- Varies
- Best for:
- Qualified businesses
- Use it for:
- Expansion; working capital; equipment; real estate
- Area:
- Western MA / regional
Community Bank
Florence Bank
Business / Commercial Financing
- Amount:
- Varies
- Best for:
- Qualified businesses
- Use it for:
- Business and commercial financing needs
- Area:
- Western Massachusetts
Capital Readiness / Referral Partner
MSBDC Western Regional Office
Loan ReadinessFunding Navigation
- Amount:
- No direct funding
- Best for:
- Startups and existing small businesses
- Use it for:
- Business plans; projections; lender prep; referrals
- Area:
- Western Massachusetts
State Quasi-Public Capital Provider
Massachusetts Growth Capital Corporation (MGCC)
LoansMicroloansGrantsCDFI Capital
- Amount:
- Varies
- Best for:
- MA small businesses; inclusive/underserved focus across many programs
- Use it for:
- Growth capital; flexible lending; grants through programs/partners
- Area:
- Massachusetts
Lending ongoing; grant windows varyVisit State Venture Capital Investor
MassVentures
Equity / Venture CapitalStartup Support
- Amount:
- Company/round dependent
- Best for:
- Primarily early-stage/deep-tech MA companies; some programs prioritize underserved founders/regions
- Use it for:
- Pre-seed; seed; commercialization; technology growth
- Area:
- Massachusetts
Program/investment dependentVisit State Climate-Tech Investor
MassCEC 2030 Fund
SAFEConvertible NotesEquityVenture Debt
- Amount:
- Typically $100,000-$600,000/check; up to $1.5M cumulative
- Best for:
- Eligible Massachusetts-based climatetech companies
- Use it for:
- Climate-tech commercialization and growth
- Area:
- Massachusetts
CDFI / Nonprofit Lender
Ascendus
Term LoansLines of CreditCredit-Building Capital
- Amount:
- Term loans up to $100,000; LOC up to $50,000
- Best for:
- Small businesses including borrowers underserved by traditional lenders
- Use it for:
- Working capital; growth; credit building
- Area:
- Massachusetts and other territories; some products include Hampden County
Applications available; product eligibility variesVisit Nonprofit Crowdfunded Lender
Kiva U.S.
0% Crowdfunded Loans
- Amount:
- Up to $15,000
- Best for:
- Eligible U.S. entrepreneurs; no minimum credit score/collateral requirement
- Use it for:
- Small-business capital subject to eligibility
- Area:
- United States
Applications availableVisit Community Development Lender / CDFI
Quaboag Valley Business Assistance Corporation (QVBAC)
Small Business Loans
- Amount:
- $500-$200,000
- Best for:
- Startups/existing businesses unable to obtain equivalent conventional financing
- Use it for:
- Startup and business growth
- Area:
- Specified regional towns incl. Monson, Palmer, Ware; not Springfield
Applications acceptedVisit CDFI / Community Investor
Nectar Community Investments
Small Business LoansEquity/InvestmentAdvisory
- Amount:
- Varies
- Best for:
- Businesses facing barriers to growth; strong focus/record with businesses of color
- Use it for:
- Growth financing; strategic advisory; capital readiness
- Area:
- Massachusetts; verify product geography
State Grant / Capital Readiness
Massachusetts Life Sciences Center - MassNextGen
Non-Dilutive GrantsCoachingInvestor Access
- Amount:
- Up to $100,000 per awardee in 2026 cycle incl. possible in-kind support
- Best for:
- Eligible early-stage life-science companies led by underrepresented entrepreneurs
- Use it for:
- Company development; commercialization; fundraising readiness
- Area:
- Massachusetts life-sciences ecosystem
2026 cycle closed; monitor next cycleVisit State Grant Program
Business Builds Capital Grant Program
Capital Reimbursement Grants
- Amount:
- Large capital projects; smaller requests directed to other programs
- Best for:
- Established for-profit businesses making qualified MA capital investments
- Use it for:
- Construction/buildout; equipment; infrastructure; expansion/relocation
- Area:
- Massachusetts
Monitor next deadlineVisit State Matching Grant / Crowdfunding
Biz-M-Power / MassDevelopment
Matching GrantsCrowdfunding
- Amount:
- Prior awards up to $50,000; terms vary by round
- Best for:
- Qualifying small/microbusinesses
- Use it for:
- Facility; equipment; other eligible capital needs
- Area:
- Massachusetts
Current round closed; watch next roundVisit Nontraditional Lender / SBA 504 CDC
BDC Capital / New England Certified
Growth LoansSBA 504Supplemental Financing
- Amount:
- Historically $50,000-$1M growth loans; SBA 504 larger
- Best for:
- Businesses needing nontraditional/supplemental financing
- Use it for:
- Working capital; real estate; machinery/equipment; acquisitions; restructuring
- Area:
- Massachusetts / New England
Certified Development Company
Bay Colony Development Corporation
SBA 504 Financing
- Amount:
- Project-dependent
- Best for:
- Eligible small/medium businesses pursuing fixed assets
- Use it for:
- Owner-occupied real estate; expansion; equipment
- Area:
- Massachusetts / New England
Ongoing subject to eligibilityVisit Details last checked 2026-10-04. Programs change — confirm terms with each provider.
