Areas Served: Towns of Belchertown, Brimfield, Brookfield, East Brookfield, Hardwick, Holland, Monson, New Braintree, North Brookfield, Palmer, Spencer, Wales, Ware, Warren, or West Warren.
WHAT ARE MY OPTIONS? Based upon needs and eligibility Quaboag Valley Community Development Corporation offers two business loan options for borrowers to consider.
SMALL BUSINESS LOANS We offer loans up to $100,000 for businesses planning to create jobs in the near future.
Borrowers have received loans for many purposes, including: start-up equipment, purchase of assets, working capital, and expansion or acquisition of business-related real estate.
MICROENTERPRISE LOANS Very small businesses (5 or fewer employees, including the owner) can be eligible for Microenterprise Loans if the owner(s) meet low to moderate income guidelines.
These loans are typically for up to $25,000 and can be used for purposes similar to Small Business Loans.
There is no requirement for job creation.
ELIGIBLITY – At least fifty-one percent of your business in one of the following towns: Belchertown, Brimfield, Brookfield, East Brookfield, Hardwick, Holland, Monson, New Braintree, North Brookfield, Palmer, Spencer, Wales, Ware, Warren, or West Warren.
– Prove that you are not eligible for conventional financing, either completely or partially.
A denial from a bank, or evidence showing a gap in your financing need, is necessary.
– Show that a job, or jobs, for low or moderate-income person will be created or retained as a result of the loan.
Eligibility requirements differ slightly in this regard for Microenterprises.
See the following section on Microenterprise Loans
Contact InformationQuaboag Valley Community Development Corporation
Address: 23 West Main St
City: Ware
State: Massachusetts
Website:
http://www.qvcdc.com/sblending.html
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