Q: Business Grants and Loans in Massachusetts: Funding for Your Massachusetts Business

Are you a Massachusetts business owner? Or, are you considering launching a new venture in the Commonwealth? If you answered yes to one of those questions, chances are, you need funding. Well, we’ve got your back. Below, you’ll find business grants and loans only available to businesses that operate within Mass. Check these out to discover if your business is eligible and then get busy applying!  


Department or Agency: Massachusetts Growth Capital Corp.

Loan or Grant title: Massachusetts Growth Capital Corp. Small Business Lending

The Massachusetts Growth Capital Corp. provides loans ranging from $5,000 to $2 million for businesses that can’t get traditional funding. To qualify, businesses must be headquartered in Massachusetts and work in any industry except real estate and startups. There’s only one restriction on the loan funds: they can’t be used for tax payments. 


Department or Agency: MassVentures

Loan or Grant title: Small Business Innovation Research (SBIR) Targeted Technologies (START) Program

Any Massachusetts-based business that has been awarded funds through SBIR Phase II may be eligible for grants and business guidance to help them create jobs and commercialize their technologies. Each year, the program awards 17 grants ranging from $100,000 to $500,000. 


Department or Agency: MassVentures

Loan or Grant title: Small Business Innovation Research (SBIR) Targeted Technologies (START) Program

Any Massachusetts-based business that has been awarded funds through SBIR Phase II may be eligible for grants and business guidance to help them create jobs and commercialize their technologies. Each year, the program awards 17 grants ranging from $100,000 to $500,000.


Department or Agency: MassVentures and Massachusetts Clean Energy Center (CEC)

Loan or Grant title: MassCEC Catalyst & Diversity in Cleantech Early Stage (DICES) Program

This program offers grants of up to $75,000 for businesses that are looking to convert R&D into commercially viable clean-energy technologies. DICES awards two additional grants of up to $75,000 each for women-owned and minority-owned early-stage businesses. Eligible businesses include principal investigators at nonprofit research institutions and early-stage clean-energy companies based in Massachusetts. 


Department or Agency: Franklin County Community Development Corp.

Loan or Grant title: Flexible Financing for Small Businesses 

The Franklin County Community Development Corporation serves the western Massachusetts area and provides loans ranging from $5,000 to $200,000. Both established businesses and startups may qualify and can use the funds “for a wide range of purposes.”  


Department or Agency: Massachusetts Growth Capital Corp.

Loan or Grant title: Biz-M-Power crowdfunding matching grant program

The Biz-M-Power program provides matching grants to Massachusetts-based small businesses that raise $1,500 to $60,000 through crowdfunding. Recipients can’t use grant funds for ongoing business operations and general working capital. But they can use the money to purchase, lease, expand, or improve a facility; purchase or lease equipment; or meet certain other capital needs. To qualify, businesses must:

  • Operate in Massachusetts
  • Maintain a public-facing, brick-and-mortar location
  • Employ up to 20 full-time equivalent employees (including the owner)
  • Be the business owner’s primary source of income  
  • Earn less than $2.5 million annually  

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