LISC Small Business

Impact Lending

Affordable loans to help your small business grow.

Photo by Darlene DeVita

Impact Lending provides financing from $1,000 to $1 million to small businesses across Boston in need of capital. Supported by Northeastern University, Impact Lending is a collaborative of mission-based lenders, led by LISC Small Business, that wants to support and expand the local businesses that create jobs, drive economic growth, and add character to Boston’s neighborhoods.

Our mission is to support small businesses across the city that might not qualify for traditional bank financing, especially those that are minority- and women-owned. We offer loan options with flexible rates, terms, and credit criteria and free technical assistance. We can help your business fulfill a vendor contract with Northeastern, connect you to vending opportunities at the University, or simply grow your business. Together, we’ll work to build a more inclusive economy that increases access and opportunity for Boston entrepreneurs.

Financing Options

Contract Financing Term Loan Micro Loan Kiva Loan

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

Financing Uses

In Partnership

Program & Lending