Small Business Funding

Affordable, flexible capital is essential to launch, operate, grow and scale your business. Funding that is accompanied by business coaching is an added bonus. We offer both with our mission-based SBA Microloan, and ACRE Catalyst Fund. We fund all stages of business, including startup. We are able to fund individuals with poor or limited credit, depending on the credibility of the business plan, financial projections and the entrepreneur’s ability to operate the business and pay back the loan.

Lawrence, TREND, Lowell MA

SBA Microloan

The SBA Microloan provides mission-funds for local small business owners. The Entrepreneurship Center service area includes Middlesex & Essex County. The SBA Microloan is part of the Cares Act Debt Relief program.

  • Loan Terms: Up to 6 Years
  • Loan Amount: Up to $50,000
  • Interest Rate: 7.75% Initially, Reduced to 5.25% after completing 20 hours of business coaching.

Qualifications: Businesses must be located in the Entrepreneurship Center’s SBA Service Area. Link to our Service Ares. All interested applicants must complete the New Business Intake Form. https://www.tfaforms.com/4914279

If you are planning to apply for a microloan, please complete the form below. 

https://www.tfaforms.com/4914425  

For applicants that are already in business, please complete the assessment below so that we can best help you.  If you unable to answer a question please continue to complete as much as possible.  

https://www.tfaforms.com/5041463  

For Loans Applicant, please also complete and/or submit the following documents.   

Application Documents – Our Application documents can be completed online.  However, if you want to complete a document in print, the links to the paper documents are below.   

Application – https://www.tfaforms.com/5040597  

Cori Form – https://www.tfaforms.com/5045263  

Appendix C – https://www.tfaforms.com/5045389  

Please obtain and prepare the following for submission to our Website: 

  • Copy of Photo Id 
  • Personal and/or Business Tax Return 
  • Copy of Lease or Proposed Lease 
  • Business Plan 
  • Projections (If you don’t have one, you can download a template here:  
  • Year To Date Profit/Loss Statement( If you don’t have one, you can create one here: https://www.tfaforms.com/5045251)  
  • Most Recent Balance Sheet (If you don’t have one, you can create one here: https://www.tfaforms.com/5045243)  
  • Copy of Personal Bank Account Statement 
  • Copy of Business Bank Account Statement
  • Invoices or Quotes for Equipment to be purchased 
  • For Corporations, Partnerships or LLCs (if applicable): 
    • Partnership/Corporation Agreement 
    • Limited Liability Company (LLC) Operating Agreement 
    • Certificate of Good Standing 
    • Articles of Incorporation 
    • Proof of Annual Filing 

Franky, Dan (Raymark) KellyAnne

ACRE Catalyst Fund

The ACRE Catalyst Fund is a loan fund, in partnership with the Entrepreneurship Center JDCU and Working Cities Challenge. These funds are earmarked to support ACRE neighborhood businesses and residents.

  • Loan Terms: Up to 5 Years
  • Loan Amount: Up to $20,000
  • Interest Rate: 6%

Qualifications: Businesses or Business Owners must be located in the ACRE Neighborhood of Lowell, MA. All interested applicants must complete the New Business Intake Form.  If interested in a microloan, a business must complete the Inquiry Form along with gathering the additional information on the Document Request List.

New Business Intake Form

Rafaela, GloryScent, Lowell MA

Massachusetts Growth Capital Corporation (MGCC) Grants

The Entrepreneurship Center is a key partner with MGCC and the State of Massachusetts, offering support on grant applications and follow up. 

If you are applying for MGCC Grants, please use the links below. 

If you would like to apply for a grant, please sign up for a Submittable account at the link below. 

https://manager.submittable.com/signup  

If applying for the Biz M – Power Grant Program, complete the application below 

https://massgcc8.submittable.com/submit/244314/biz-m-power-grant-program  

Next, please gather and submit the documentation below: 

  • Federal Business Tax Return 
  • Federal Personal Tax Return 
  • Completed and Signed IRS Form W-9-  https://www.irs.gov/pub/irs-pdf/fw9.pdf  
  • Copy of Lease, Rental Agreement or Mortgage 
  • Copy of Photo Id 
  • Quotes/invoices from vendors, contractors, or installers for each item listed in your Biz-M-Power Project Table 
  • For Sole Props, a copy of your business certificate 
  • For Corporations, Partnerships or LLCs (if applicable): 
  • Partnership/Corporation Agreement 
  • Limited Liability Company Operating Agreement 
  • Certificate of Good Standing 
  • Articles of Incorporation 
  • Proof of Annual Filing 

If you are applying for the Empower Digital Grant, please complete the digital assessment below:

Follow this link to complete the assessment

Next, please gather and submit the documentation below: 

  • Federal Business Tax Return 
  • Copy of Lease, Rental Agreement or Mortgage 
  • Copy of Photo Id 
  • Quotes/invoices and Project Proposal from Qualified vendors, contractors 

For more information on MGCC Grants please visit www.empoweringsmallbusiness.org  

We also work with the City of Lowell, Town of Chelmsford and other institutions to support businesses apply for small business grants.

If we learn of a new grant opportunity we will send the information through our newsletter. Please sign up for our newsletter and social media to stay informed.

Please note, if you do not have any the required documents, or need assistance with any of the above funding opportunities, please contact the E-Center at 978-654-5731.