About this programme
The Growth Capital Microloan Program is run by MassDevelopment, the state's quasi-public economic development agency, to give Massachusetts-based small businesses smaller-scale financing for operational needs and asset purchases.
Loans range from $5,000 to $100,000 and are open to for-profit businesses headquartered in Massachusetts, as well as nonprofit childcare businesses.
How it works
Microloans provide financing from $5,000 to $100,000, with amortization up to 6 years available for qualifying borrowers.
Loans require a personal guaranty, which may call for additional security, and a lien on all business assets.
Who can apply
The business must be a for-profit business, or a nonprofit childcare business, headquartered in Massachusetts.
The business must have been actively operating for at least 12 months.
Applicants need a minimum personal credit score of 575, with no historical or pending charge-offs by creditors and no existing government liens.
How to apply
- Apply for the Microloan through MassDevelopment's online Submittable portal.
Documents you’ll typically need
- 2 years of business and personal tax returns
- Personal guaranty (may require additional security)
- Lien on all business assets
Frequently asked
How much can I borrow?
Microloans range from $5,000 to $100,000, with amortization up to 6 years for qualifying borrowers.
What credit score do I need?
A minimum personal credit score of 575, with no historical or pending charge-offs and no existing government liens.
How long does my business need to have been operating?
At least 12 months of active operation.
What documents will I need?
Two years of business and personal tax returns, a personal guaranty (which may require security), and a lien on all business assets.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.