Community Business Loan
Lawrence Venture Loan Fund
MCCI has partnered with the Lawrence Venture Loan Fund to co-offer small business loans to Lawrence-based existing and start-up businesses that cannot currently access financing from a traditional bank or credit union lender.
For more information, contact Kristin Wallace, Commercial Lender, at 978-242-7362 or firstname.lastname@example.org.
To Qualify Businesses Must Demonstrate
The business owner(s) are 18 years of age or older
The business is located in Lawrence
The community would benefit from the business project
20% investment into the business by the business owner
Willingness and capability to repay the loan
Business industries not applicable- Cannabis, Adult Entertainment, Firearms, Pyramid based, Real Estate/Stock speculation
The Lawrence Venture Loan Fund is capitalized by 11 financial institutions committing $100,000 each to create a $1.1 million fund available for local lending. Essex County Community Foundation supports loan loss reserves to offset the risk of the loans and MCCI administers the loans and the program in close partnership with the Lawrence Partnership.
Anchored by private capital and completed through close collaboration among other core partners, the Lawrence Venture Loan Fund represents what is possible through a shared vision and investment.
Loan recipients also benefit from additional technical assistance provided by MCCI and other partners that are part of our small business coalition.