The Boston Local Development Corporation (BLDC) is a non-profit organization based in Boston, Massachusetts, dedicated to promoting employment opportunities for Boston residents. They provide small business loans to commercial, industrial, and service companies, with a track record of over $20 million in loans that have leveraged over $95 million in collaboration with Boston's banking community, resulting in the creation or retention of over 3,500 jobs.
The BLDC offers two loan programs: the Standard BLDC Loan Fund, ranging from $40,000 to $150,000, and the Backstreets Boston Loan Program, which provides financing up to $250,000 for industrial and manufacturing companies. Their loans can be used for various purposes, such as working capital, property purchase, construction, equipment acquisition, and inventory expansion. The BLDC also collaborates with local lenders to provide gap financing through subordinated debt, ensuring comprehensive financial support for businesses in Boston.
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