Grow Springfield Fund

The Grow Springfield Fund is supported with funds from the National Development Council's Grow America Fund (GAF) which was made possible through the participation of the City of Springfield's participation in the US Department of Housing and Urban Development and the Community Development Block Grant Program.

Details:

1. Loans can be made to eligible businesses located within the City of Springfield.
2. Long term financing and Low Equity Requirements available
3. Loans range from $50,000 to $250,000
4. Criteria is flexible and loans are tailored to the individual borrower
5. Typical loan terms depend on the type of project and can be anywhere from 3 to 25 years.

Ideally, the Grow Springfield Fund will look to finance healthy for-profit businesses that have the ability to create jobs and need to expand to fulfill their full growth potential.  Generally, the fund is not intended nor tailored for start-up businesses, but rather for existing businesses seeking to expand or grow.

To receive an application or for more information, please contact Nancy Savis from the National Development Council at nsavis@nationaldevelopmentcouncil.org or 973-276-1640.

For requests of less than $50,000, you may want to consider contacting other financial institutions in Springfield as well as the Western Massachusetts Enterprise Fund.