NHS Small Business Loan Program
NeighborWorks Housing Solutions recently received CDFI (Community Development Financial Institutions) funding through MassDevelopment. As part of our commitment to small businesses, we created four (4) Small Business Loan Programs that can go as high as $10,000. These loan programs are designed to help small businesses in different aspects of their business.
1. Thrive Local Business Loan - Brick and Mortar | Mobile
Purpose:
The Thrive Local Business Loan is a flexible microloan solution created to support the foundational growth of early-stage, neighborhood-based small businesses. Whether you're a new retail shop on Main Street or a mobile service provider just getting started, Thrive is designed to help you lay the groundwork for long-term success.
Ideal For:
- Startups in operation for less than 2 years
- Women-, minority-, and veteran-owned businesses
- Entrepreneurs located in underserved or rural communities
- Retail shops, cafés, beauty salons, landscaping services and mobile vendors
Loan Maximum:
Up to $10,000
Rate & Term:
- 3% APR
- 3.5-year term (42 months)
- 90-day deferred payment option available to allow time for business ramp-up or seasonal adjustments
Eligible Uses:
Use Thrive funds for mission-critical expenses that directly contribute to your business growth and sustainability, including:
- Lease deposits and commercial space fit-outs
- Equipment purchases (kitchen tools, cleaning machinery, grooming gear, etc.)
- Inventory stocking (seasonal or year-round)
- Technology upgrades (POS systems, tablets, accounting software)
- Storefront or vehicle signage and branding materials
- Website setup, basic marketing, or e-commerce tools
Unique Features:
- Community-Centric Priority: Thrive prioritizes applicants located in low- to moderate-income neighborhoods or rural gateway communities where traditional funding is limited.
- Deferred Start Option: Borrowers may choose to defer payments for the first 90 days, easing the pressure of early operational costs.
- Hands-On Support: Access to optional business development services including financial coaching, bookkeeping templates, and marketing plan support.
Why Thrive Works:
Many startups struggle to secure capital during their first few years due to limited credit history or inconsistent revenue. Thrive fills this gap by offering an approachable, affordable funding option built around the real challenges of launching and sustaining a small business in a community setting.
2. Momentum Maker Digital Loan - Marketing
Purpose:
The Momentum Maker Digital Loan is designed to empower small businesses by helping them strengthen their online presence and adopt essential digital tools. Whether you're looking to launch your first website, expand your e-commerce reach, or invest in digital marketing, this loan provides the capital and guidance to help your business thrive in a tech-driven marketplace.
Ideal For:
- Service-based businesses seeking online scheduling, booking, or client portals
- Brick-and-mortar retailers building an e-commerce platform
- Entrepreneurs growing online-only shops or digital-first brand
- Businesses pivoting to virtual services or expanding their digital marketing
Loan Maximum:
Up to $10,000
Rate & Term:
- 3% APR
- 3.5-year term (42 months)
- Optional 90-day payment deferral to allow time for implementation and results
Eligible Uses:
This loan covers a wide range of digital investments that can create lasting impact and growth, including:
- Custom website design and development
- E-commerce setup, including product listings, shopping carts, and payment gateways
- CRM systems and client management platforms (like HubSpot, Square, or HoneyBook)
- Email marketing tools and automation software
- Online advertising, including Google Ads and paid social campaigns
- Search Engine Optimization (SEO) services to improve visibility
- Social media content planning and strategy
- Upgrades to hardware or software that support digital operations
Unique Features:
- Free Digital Audit: Every approved borrower receives a personalized digital audit that reviews their current online presence, website, SEO ranking, and social media performance.
- Marketing Coaching Session: Includes a 60-minute one-on-one session with a digital marketing specialist to help you prioritize your next best steps and maximize your loan impact.
- Flexible Use & Support: Whether you're starting from scratch or optimizing what you already have, this loan provides both funding and expert insight to help move your business forward.
Why Momentum Maker Works:
In today’s economy, digital readiness is essential to compete and connect with customers. Yet many small business owners lack the upfront capital to build a strong digital foundation. The Momentum Maker Digital Loan removes those barriers by combining accessible financing with hands-on guidance, making it easier to grow your business online—no matter your starting point.
3. HerLaunch Fund - Women Based Fund
Purpose:
The HerLaunch Fund is an empowering microloan program dedicated to supporting women-identifying entrepreneurs at the earliest and most critical stages of their business journey. Whether you're taking your first steps toward launching a new venture or scaling an existing one, HerLaunch provides not just capital—but also community and mentorship designed to help you thrive.
Ideal For:
- First-time female founders and aspiring entrepreneurs
- Women-led startups seeking seed capital or early growth support
- Solopreneurs launching product lines or creative ventures
- Service providers, consultants, creatives, and digital-first businesses
- Women from underserved communities seeking support in business development
Loan Maximum:
Up to $10,000
Rate & Term:
- 3% APR
- 3.5-year term (42 months)
- Optional 90-day payment deferral to support early-stage development and planning
Eligible Uses:
This fund is designed to fuel the foundational steps of building or scaling a business, including:
- Business development (legal, licenses, coaching, or consulting)
- Product or service launch costs (prototyping, materials, packaging, etc.)
- Website and brand development (design, copywriting, domain, hosting)
- Digital tools and systems such as CRM, scheduling software, or e-commerce platforms
- Marketing, customer acquisition, and outreach efforts
Unique Features:
- Peer Mentorship: Every borrower is matched with a fellow female founder or industry mentor for guidance, support, and accountability.
- Meet once a month at a women-owned business and enjoy business insights and casual conversation around trending business issues.
- Empowerment-Focused Design: HerLaunch is more than a loan—it’s a launchpad for women ready to take bold steps in business with the backing of a like-minded community.
Why HerLaunch Works:
Access to capital remains a persistent barrier for many women-identifying entrepreneurs—especially in the early stages. The HerLaunch Fund addresses this gap with a gender-responsive model that combines flexible financing with mentorship and peer-driven learning. Whether you need funding for a prototype, website, or marketing campaign, HerLaunch ensures you're not doing it alone. This is your opportunity to move from idea to action—with support every step of the way.
4. Second Shift Startup Loan - Side Hustlers and Hobbyists
Purpose:
The Second Shift Startup Loan is intentionally crafted for part-time entrepreneurs, side hustlers, and aspiring business owners who are building their dream while juggling employment, caregiving, or other responsibilities. This loan is designed to bridge the financial and time constraints that come with starting a business outside of traditional 9–5 hours—offering both capital and support to help founders transition toward full-time entrepreneurship.
Ideal For:
- Side hustlers building a business in the evenings or on weekends
- Parents, caregivers, or full-time employees launching their ventures gradually
- Creatives, freelancers, and solo entrepreneurs testing a proof of concept
- Women, BIPOC, and underrepresented founders navigating non-linear career paths
Loan Maximum:
Up to $10,000
Rate & Term:
- 3% APR
- 3.5-year term (42 months)
- 90-day payment deferral option to accommodate side business ramp-up time
Eligible Uses:
This loan is designed to ease the operational and mental load of launching a business while managing competing priorities. It supports investments that optimize time and capacity, such as:
- Targeted evening/weekend marketing (ads, events, or social media campaigns)
- Hiring virtual assistants or outsourcing administrative tasks
- Productivity tools, automation platforms, or customer relationship management (CRM) systems
- Part-time help or contractors to support fulfillment, design, or service delivery
- Professional development including courses, branding, or coaching that accelerates growth
Unique Features:
- Flexible Hours Mastermind: Access to a monthly mastermind group made up of fellow second-shifters for accountability, time-hacking strategies, and peer support
- Productivity Coaching: Includes one-on-one or small group sessions focused on time management, habit building, and strategic planning for founders with limited bandwidth
- Lifestyle-Aligned Design: Built around the reality that not all entrepreneurs can quit their jobs or jump in full-time right away—and that’s okay
Why Second Shift Works:
Not everyone starts a business under the same circumstances. The Second Shift Startup Loan recognizes the resilience, creativity, and dedication needed to build something during "off" hours. It offers accessible, affordable capital and community support for founders who are scaling wisely, not just quickly. Whether you need help automating operations, outsourcing time-consuming tasks, or finding a supportive peer network, this loan supports you where you are—and moves you closer to your goals.
For more information on requirements for the loan program: Click Here. For our upcoming small business workshops: Click Here.
Contract information: Tricia White, Small Business Development Officer at pwhite@nhsmass.org.