A number of unique partnerships exist which provide opportunities for businesses to acquire attractive and flexible rates and terms for financing your project. These initiatives involve public entities and private financing institutions and were develope d to promote entrepreneurial activity in North Adams. The purp ose of the program is to provide small businesses with a source of debt financing which will enable them to bridge the gap between the total financing needs of the business and what conventional lenders are willing to provide.
Funding is available to qua lifying start-up and existing small businesses in the community.
The business must be located in, or be willing to relocate into the City of North Adams. Special cases may qualify the applicant for additional funds. Venture capital funding can be in the form of debt, equity or a combination of debt and equity. Interest rate and terms vary with need, r isk of the investment, costs of other capital and public benefits. Also as a member of the Western Mass. Enterprise fund, the CDC can process loans for small and micro businesses.