SBA Microloan Program

Contact

Massachusetts Growth
Capital Corporation
529 Main Street
Schrafft Center, Suite 201
Charlestown, MA 02129

Tel: +1 617-523-6262
Fax: +1 617-523-7676

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SBA Microloan Program

MGCC is one of only two statewide intermediary lenders for the U.S. Small Business Administration's (SBA) Microloan Program. These microloans are available to Massachusetts small businesses to help grow or expand.

Loan Details

  • Term loans up to $50,000
  • Amortization up to 6 years
  • Fixed rate presently 7.50%
  • No points
  • No prepayment penalties
  • No life insurance requirements

Eligibility Requirements

  • Minimum personal credit score of 600
    • No historical or pending charge offs by creditors permitted or existing government liens
  • 2 years tax returns; business and personal
  • Lien on all business assets
  • Personal guaranty (may require security)
  • Program available to new MGCC customers only
  • Certain industries may be ineligible, including real estate investments

How to Apply

  1. Download SBA MICROLOAN APPLICATION
  2. Fill Out

  3. Submit via Email or By Mail To:

    mgcc@massgcc.com

    Massachusetts Growth Capital Corporation

    Attn: SBA Microloan Officer
    Schrafft's City Center
    529 Main Street, Suite 201
    Charlestown, MA 02129

Approved to offer SBA loan products
under SBA's Microloan program