Micro-Loans

The Dorchester Neighborhood Loan Fund is a subsidiary of DBEDC and is a Certified Small Business Intermediary Micro- lender under the auspices of the U.S. Small Business Administration and a Certified Community Development Finance Institution (CDFI) under the auspices of the U.S. Department of Treasury.

Under DBNLF’s Micro-Loan Program, we are able to provide start-ups and young businesses (less than two years in operations) with small amounts of capital that they can use for purchasing inventory, equipment and for general working capital purposes.

Loan Sizes: $1,000 – $50,000
Loan Terms: 1-5 years
Loan Rate: 7.25%-8.375%

Small-Loans

Where we lend

In order to make significant impact in the community, our lending is confined to the Dorchester, Roxbury, Mattapan, and Hyde Park sections of Boston.
We will consider applications from business owners who either:

a) live in one of these neighborhoods
b) own a business located in one of these neighborhoods

 

What we Need

Information required for lending includes personal and business tax returns, a monthly cash flow projection, a uses of fund statement, personal financial statement, as well as other information for us to fully understand your business and the purposes of the loan request. The accompanied application will detail all required information.

                                       

Please contact Jim McSherry at (617) 617-533-9567 or jmcsherry@dbedc.org.