Direct Loans for Businesses Involved in Recycling.
Administered by BDC Capital, and funded by the Massachusetts Department of Environmental Protection, the Recycling Loan Fund offers loans ranging from $50,000 to $500,000 to help Massachusetts businesses active in recycling-related activities obtain the capital needed for any reasonable business purpose.
General Program Parameters:
- Loans from $50,000 to $500,000 for recyclers
- Loans up to $1.5 million for anaerobic digestion projects
- Terms up to ten years
- Direct loans to solid waste recycling or re-use businesses
- For permanent working capital, refinancing, and real estate, machinery & equipment, and acquisition financing
Many Types of Businesses Qualify
Recycling companies, subsidiaries or units that qualify are those whose primary purpose involves:
- Collecting or separating recyclable materials for resale
- Reuse, processing, composting or converting of recyclable materials into marketable products
- Manufacturing products that use recycled materials
- Wholesaling or retailing of recycled feedstocks or products containing a significant percentage of recycled materials
Priority Assistance for Food Waste Projects
- Preferred terms for composting, anaerobic digestion, or other facilities that divert food waste from disposal.
- Interest rates as low as 2% (depending on credit, risk factors, and materials recycled).
- Businesses such as food processors that are not recycling or composting businesses, but that generate food waste, may be eligible to develop on-site composting or digestion operations for food waste diversion.
Some examples of businesses we have financed include:
- A composting facility
- A converter of paper with recycled content
- A manufacturer of recycled-content plastic products
- An asphalt plant
- An electronics recycler
- A foundry
- An anaerobic digestion facility
- A scrap metal recycler
- A paper shredding (document destruction) recycler
- A construction and demolition recycler
- A carpet recycler
Will the 2030 Solid Waste Master Plan create new opportunities for your business?
Massachusetts has published the new 2030 Solid Waste Master Plan. The Plan sets aggressive waste reduction goals and places an increased emphasis on building new recycling markets in Massachusetts. The Plan also establishes new waste disposal bans.
Effective next year on November 1, 2022:
- Mattresses will be banned from disposal.
- Textiles will be banned from disposal.
- The threshold for the commercial organics disposal ban will be lowered to apply to businesses generating one-half ton (currently at one ton) or more of food material per week.
The Recycling Loan Fund is an excellent way to obtain the financing you need.