Microloan Boston, made possible by a partnership between the City’s Department of Neighborhood Developmentand Boston Connects Inc. (BCI), is a $350,000 loan pool designed to support entrepreneurs and existing small business in Boston’s Empowerment Zone. Eligible businesses can apply for a loan of between $5,000 and $25,000 to assist with working capital needs, such as inventory and leasehold improvements. Microloan Boston loans have a fixed rate of interest of 9%.

Applicants are also provided with pre-loan technical assistance, including:

• Business plan development
• Marketing plan development
• Financial literacy
• Accounting
• Legal assistance

Priority is given to those small business applicants who:

• are unable to obtain conventional financing;
• plan to employ persons with CORI status;
• need funding to move into the next growth stage (including the addition of the first formal non-owner employee);
• have a business plan that will enhance the quality of life within the Empowerment Zone;
• are Empowerment Zone residents who plan to participate in the City's workshops in order to start a new business 

Microloan Boston application  
Boston Connects Inc.
Map of Boston's Empowerment Zone  

Program contact:

Jovita Fontanez, Neighborhood Business Manager
Office of Business Development
Department of Neighborhood Development
Phone: 617.635.0212
Email: jfontanez.dnd@cityofboston.gov