We offer contract financing through our lending partner, Massachusetts Growth Capital Corporation, to businesses that have an existing or upcoming contract with Northeastern and need a line of credit to fulfill it.
- Loan amount: $50,000 to $500,000
- Interest rate: 3-7%, fixed
- Term: Matches term of contract, may be renewed for an additional one-year term
We offer longer-term SBA loans to support working capital, equipment and inventory purchases, leasehold improvements, real estate purchases, and debt refinancing.
- Loan amount: $50,000 to $1 million
- Interest rate: Prime + 3.5% (max 7% initial interest rate)
- Term: 7-10 years; real estate terms may be up to 25 years
For businesses that require short-term financing and small amounts of capital to expand, we offer micro loans.
- Loan amount: $10,000 to $50,000
- Interest rate: 7%
- Term: 1-5 years
Through Kiva’s online platform, entrepreneurs can crowdfund character-based loans up to $10,000. Kiva expands financial opportunity for entrepreneurs by using a borrower’s network and reputation as the basis for creditworthiness, instead of credit scores, net worth, or years in business.
- Loan amount: Up to $10,000
- Interest rate: 0%
- Term: Up to 2 years for $5,000 loans; up to 3 years for $10,000 loans