Programs and Loan Opportunities
Cultivating a vibrant business landscape in Manchester, the Manchester Development Corporation (MDC) empowers entrepreneurs through a range of financial programs. From low-interest loans to matching grants, these programs foster the growth of both new and established businesses.
ENHANCE MHT
Businesses and landlords can apply for a $500 matching grant to improve the look of their storefronts.
KICKSTART MHT
MDC offers low-interest loans to help downtown businesses start or expand.
QUEEN CITY LOAN FUND
MDC offers gap financing for larger business investments through the Queen City Loan Fund.
CUSTOM MHT LOAN FUND
MDC's Custom MHT Loan helps downtown businesses with acquisitions, real estate, or improvements.
ENHANCE MHT
The MDC is offering a $500 Enhance MHT Grant to businesses and landlords for improvements to streetscape, outdoor seating, restaurant barriers, façade improvement, window display, signage, or other related beautification efforts. This fund size is capped at $10,000 total and requires a commitment from the business owner to match funds for a total of $1000. The following terms have been established for this investment product:
KICKSTART MHT
To incentivize small businesses to locate in a downtown area, Manchester Development Corporation wishes to provide support through its Kickstart MHT loan. These loans are intended to provide downtown businesses with an opportunity to access low interest capital to start or expand a business. This fund size is limited to $250,000.
QUEEN CITY LOAN FUND
For businesses needing greater investment or gap financing, applicants may apply for the Queen City Loan Fund which is intended to provide capital for growth or expansion. This fund size is limited to $500,000, requires other funding sources in place by borrower (traditional lenders), and no more than 25% of the loans in fund can be concentrated on food & beverage businesses. As of September 2023, MDC has issued $130,000 in non-real estate loans with 42% concentrated on food and beverage totaling $55,000 in loans issued with $24,465 in outstanding principal due.
CUSTOM MHT LOAN FUND
For businesses needing other forms of assistance, applicants may apply for the Custom MHT Loan Fund which is intended to provide capital for acquisitions, real estate, or other major improvements to the downtown area. This fund size is not limited; however, MDC will work with participant lenders based on the total need and impact of the business on the community. There are no geographic limitations or restrictions, however, the borrower must provide the evidence necessary to prove need through their request.
Get In Touch
Interested in our financial support programs? Contact us to discover how our grants and loans can help you achieve your business goals and make a positive impact on our community.