MassDevelopment Emerging Technology Fund (ETF)
MassDevelopment (Massachusetts Development Finance Agency)
Up to $4,000,000
MA venture debt for tech companies launching manufacturing
MassDevelopment's Emerging Technology Fund provides venture-debt loans up to $4M to Massachusetts technology companies launching or expanding manufacturing operations — for real estate, equipment, or working capital. ETF loans are lower-rate than bank debt and pair with co-lenders, making them accessible to tech companies that have raised equity but need non-dilutive debt capital. A specialized SBIR Bridge Loan track (up to $250K) bridges the gap for companies awaiting SBIR milestone payments.
- Funding type
- Loan
- Level
- State
- Amount range
- $4,000,000
- Realistic amount
- Most ETF loans are in the $500K–$2M range. SBIR Bridge Loans average $50K–$250K, closely tied to the milestone payment a…
- Deadline
- Rolling — applications accepted on a continuous basis. Contact MassDevelopment to discuss your project.
- Status
- active
- States
- MA
- Payment model
- advance
Who qualifies
- Technology company located in or relocating to Massachusetts
- Considering launching or expanding manufacturing operations in Massachusetts
- Seeking financing for real estate purchase/expansion, equipment, or working capital
- Must have financing committed from at least two other parties (in addition to ETF)
- Strong management team, demonstrated technical development, shown market demand
- Proven financial records
- For SBIR Bridge Loan: must be a Massachusetts-based SBIR grant awardee with a committed milestone payment forthcoming from the federal agency
Hard requirements
- Must be incorporated
- Location restriction: Massachusetts
What it covers
Eligible expenses
- Purchase, expansion, or improvement of Massachusetts real estate for manufacturing operations
- Equipment purchases for technology development or manufacturing
- Working capital for growth and operational expansion
- SBIR Bridge Loan: advance against committed SBIR milestone payments (up to 90% of milestone)
Ineligible expenses
- Personal expenses
- Real estate acquisition outside Massachusetts
- Speculative investments or activities unrelated to technology/manufacturing
- Companies that cannot assemble a co-lending group
How to apply
-
1
Contact MassDevelopment to discuss the project
Call 857-262-3129 or email through massdevelopment.com to introduce your company and describe the financing need. MassDevelopment will assess whether ETF is the right product and whether the co-lender structure can be assembled.
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2
Assemble the co-lending group
ETF requires financing from at least two additional parties. This typically means a bank or other institutional lender plus either investor equity or another government program. MassDevelopment can help identify compatible co-lenders.
-
3
Submit financial documentation
Provide 3 years of financial statements (or YTD if younger), business plan, team biographies, technology description, and use-of-funds documentation.
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4
Loan review and approval
MassDevelopment reviews the application. For larger loans ($1M+), internal credit committee approval is required. Process typically takes 60–90 days from first contact to closing.
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5
Close and draw funds
Upon approval, execute loan documents and draw funds. Interest rates are below conventional venture-debt market rates.
ETF works best as a bridge or gap-filler alongside bank debt and VC equity — it cannot stand alone. The SBIR Bridge Loan is faster to close for companies with committed federal milestone payments.
Deadline & timing
No cycle deadlines. Contact MassDevelopment's Senior Vice President (857-262-3129) or visit massdevelopment.com to initiate the process.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.