Mascoma Community Development Announces New Loan Pool

Mascoma Community Development (MCD) announces that it has New Markets Tax Credits to fund a $5.5MM Small Business Loan Pool, which has received investment from MCD’s parent entity, Mascoma Bank. Eligible borrowers will benefit by receiving 50% below market interest rates among other flexible debt features.  The MCD loan pool will be used to finance eligible business expansion or equipment purchases starting at $500,000 to a maximum amount of $2,000,000.  The borrower must be located in a severely distressed or highly distressed census tract in either VT, NH or ME.  Loans will be prioritized to borrowers based on job creation, downtown redevelopment, community facilities, or business expansion projects that enhance opportunities for quality jobs and community services.