Learn More about CDFI's and Small Business Resources in Massachusetts see here
While the federal government does not provide grants for starting or growing small businesses, one of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury.
Community Development Financial Institutions fall into four categories:
AI Wainwright LLC
BCLF Ventures II, LLC
Boston Bank of Commerce
Capital Link, Inc.
Dorchester Bay Neighborhood Loan Fund
Institute for Community Economics
Jobs for Fall River, Inc.
Local Enterprise Assistance Fund
NOAH Community Development Fund, Inc.
Nuestra Development Fund
WCHR Securities, Inc.
YouthBuild Loan Fund
The Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development.
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.