MEDC Commercial and Housing Finance Program

MEDC is a 501(c)3 nonprofit lender with funds available for businesses looking to create or retain jobs. Throughout its history, MEDC has helped invest over $15,000,000 to create and retain jobs and stimulate economic development in the Monadnock Region.

The primary purpose of our revolving loan fund program is to retain and/or create employment opportunities for area residents, clean contaminated sites to support reuse, and improve the region's housing stock. We can provide financial assistance to eligible businesses, nonprofits, and housing developers in southwestern New Hampshire It is designed to assist existing and new businesses with limited financing, so actual or threatened job loss can be avoided, or new employment opportunities can be created. Retention and/or expansion of the regional employment base, leveraging of additional financial resources and demonstration of the borrower’s financial ability to repay the loan term are the primary criteria.

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Application Requirements

All applicants should be prepared to have detailed information to provide MEDC, including, but not necessarily limited to:

A comprehensive business plan
Historical financials
Projected financials
Specific information on project costs
Evidence of owner equity
Personal financial information (tax returns and personal financial statements) of all principals owning at least 20% of the business.

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Loan and Grant Programs

USDA Rural Development

These loans can be up to $250,000 or 75% of the total project cost, whichever is less. Interest rates for this loan program are fixed and depend on the use and project structure. Real estate and equipment loans are the emphasis for this fund, however MEDC would also consider working capital loans to augment existing bank lines if adequate collateral is present.

Community and Economic Development Loans

Loans for job creation and retention, real estate acquisition and renovation, and more.

Brownfields Environmental Cleanup Grants and Loans

Grant and loan funding is available for the cleanup of sites with environmental contamination. Low-interest loans are available to property owners, developers, nonprofit organizations, and municipalities. Grants are available to nonprofits and municipalities.

Keene Energy Efficiency Loan Fund

Low-interest loans are available to commercial and housing renovation projects within the City of Keene that result in reduced energy use or conversion from fossil fuels.

Monadnock Housing Development Fund

Low-interest loans are available to for-profit and non-profit developers for affordable housing projects. Eligible uses include real estate acquisition, renovation, bridge loans, and new construction.