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The Marlborough Area Community Loan Fund is a collection of local moneys that are borrowed by business owners, recycled through repayment and re-used by future borrowers. Officially launched in January 2016, this revolving loan fund (RLF) allows companies to secure “gap financing,” which provides a bridge between the funding they have obtained through a private lender and the actual amount they need to start or sustain a business. The funds are provided through a partnership between the MEDC and four local banks—Marlborough Savings Bank, St. Mary’s Credit Union, Avidia Bank, and DCU—and are used exclusively for the development and expansion of businesses in Marlborough.

If you are the owner of a business with available capital and bank loan approval that together cover a significant portion of your launch or expansion in Marlborough, the revolving loan fund could help you obtain the remaining funds. The RLF funds can be used towards:

  • Leasehold improvements
  • Operating capital
  • Acquisition of land and buildings
  • New construction
  • Façade and building renovation
  • Landscape and property improvements
  • Machinery and equipment purchases
  • Soft cost expenses related to real estate development

To be considered, revolving loan fund applications must meet all of the below requirements:

  • Business is or will be located in Marlborough
  • Personal guarantees/collateral
  • Lease or ownership of commercial property in Marlborough
  • Business plan and/or cash flow projections
  • Sufficient credit history
  • Completed RLF application and supporting documents

Download the Marlborough Area Community Loan Fund application.

For more information, contact Meredith Harris, 508 229 2010, MHarris@marlboroughedc.com

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