The Microloan Fund was established to assist small and start-up businesses locating in downtown Lynn who may not have the capacity or the ability to borrow in the private market.
Interest rates vary.
For existing businesses, a loan package will be prepared by the staff for submission. For applicants looking to start-up a new business, the EDIC will request that the prospective borrower work with the staff to prepare and determine the viability of the proposed new business.