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© Springfield Business Portal 2018 

Resources for Starting a Business

Financial Resources: Loans & Grants

Accion is the largest nationwide nonprofit lending network in the United States. They provide small business loans between $500 - $50,000 and will consider start-ups. 

More information here: https://us.accion.org/small-business-loans/local-offers/

For information on loans in the US: (866) 245-0783

Facebook: https://www.facebook.com/AccionServingEastCoast/

Twitter: https://twitter.com/AccionUS

In a specified district of downtown, prospective tenants can apply for a rent subsidy of up to $500 per month & professional support for 1 year through the pilot program Lease It Local. More details at: http://www.developspringfield.com/programs.html

Main office number: (413) 781-1591

  • For small business loans up to $15,000* with up to 50% forgivable

  • For storefront improvement grants up to $10,000*

  • For a dining district loan fund geared towards experienced restauranteurs located or locating in specified downtown district up to $200,000 flexible low interest loan.  Funds can be used for working capital, equipment, build out, etc. 

*Please note: City programs typically require at least 1 year in business

More information here: https://www.springfield-ma.gov/planning/index.php?id=business-assistance

Main office number: (413) 787-6020

Location: 70 Tapley Street, Springfield, MA 01104

Facebook: https://www.facebook.com/CityofSpringfieldMA/

Twitter: https://twitter.com/SpfldMACityHall

For loans up to $50,000 with a decision typically within 48 hours and cash within a week; borrowers also receive free 1-on-1 business assistance.

More information at: https://www.common-capital.org/

Main office number: (413) 233-1680

Location: 120 Maple St, 4th floor, Springfield MA

Facebook:  https://www.facebook.com/commoncapitalinc/​

For crowdfunded 0% loans up to $5,000 - will consider start-ups. 

More info at: https://www.kiva.org/borrow

Facebook:  https://www.facebook.com/kiva/

Twitter:  https://twitter.com/Kiva​

The PVGrows Investment Fund (the Fund) has financing available for equipment, working capital, startup expenses, and more. The Fund is designed as an alternative for borrowers who may not qualify for more traditional bank financing.  We offer competitive interest rates, flexible terms, and loan amounts ranging from $1,000 to $250,000. Loans are available for all types of local farm and food businesses– farms, restaurants, food retailers, food processors, wholesalers, and others. 

 

More information at: http://www.pvgrows.net/loan-fund/for-farm-food-entrepreneurs/

Phone: (413) 665-7100

Email: rebecca@pvgrows.net   or   info@pvgrows.net

Facebook: https://www.facebook.com/PVGrows/

Includes links and information on federal, state, local, CDC, bank and other alternative financing

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