Program Manager: Anthony Moore
The City of Springfield offers a Small Business Loan program to assist
existing businesses fund design work, construction, equipment purchase,
inventory and working capital. Funds cannot finance existing debt or
obligation or work that has already been completed. Loans generally range
from $2,500- $10,000, with a maximum request of $15,000.
Businesses must be in operation for more than a year and submit a full business plan
with their Small Business Loan application. The Loan Committee will review
queued applications quarterly while loan funds are still available:
Applications must be mailed or dropped off at the Office of Planning and Economic Development located at 70 Tapley Street, Springfield, MA.
NOTE: Proposed projects are required to fulfill basic requirements of the CDBG program, particularly as they relate to job creation goals, elimination of slum and blight, project impact upon the environment, and the Davis/ Bacon Act. The City of Springfield during the application process will advise applicants of these requirements.