The Boston Local Development Corporation or BLDC is a non-profit and private corporation, which is administered by the members of the Boston Redevelopment Authority of the City of Boston. The Boston Local Development Corporation is also one of the important financial services of the Boston Redevelopment Authority.
The functions of Boston Local Development Corporation are both vital and helpful. It is said to offer loans to existing business houses in the City and also to those relocating to the City. These loans can go up to $150,000 and can be used for a variety of purposes. They are helpful for purchasing a new business
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property, making leasehold improvements, buying equipment and machinery or providing working capital in order to build a business.The Local Development Corporation in Boston is very active, while pursuing loan participations with the local banks of the city. The BLDC administrates the Back Streets Back up Loan Program. Through this program, loans are available only for companies in the manufacturing and industrial sectors.
The Boston Local Development Corporation takes pride in stating the fact that more than 50% of businesses assisted by them are either availed by women or minorities.
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