Quincy 2000 Collaborative

Q2000logowithnewtaglineQuincy 2000 Collaborative is the economic development agency of the Quincy Chamber of Commerce. It is a private, non-profit economic development entity that unites Quincy’s public and private sectors in a common economic development mission. Working together, business and government leaders promote Quincy’s economic vitality and make the city an exceptional place to live, work, invest and visit.

Since 1992, Quincy 2000 has played a vital role in attracting new business to the city, helping existing businesses grow, and providing financial support for new and emerging businesses. Whether it is starting a new business, expanding, or relocating to Quincy, you have a partner in Quincy 2000 and the Quincy Chamber of Commerce. We can help you create a business plan, prepare a loan application or guide you through the complexities of zoning, licensing and permitting requirements.

 

The Loan Pool

Funded by seven local banks and administered by Quincy 2000, the $700,000 loan pool provides resources to start or expand a business in Quincy. Ranging from $20,000 to $200,000, loans can be used for machinery and equipment, inventory, working capital, leasehold improvements and other start up or expansion expenses. Loaned on a term/installment basis, the program fills the gap for businesses that do not qualify for adequate conventional financing.

The program serves all types of businesses – new or existing, service, retail, industrial or commercial – located in the City of Quincy. Since 1992, 59 businesses have received $3,814,800 in loans and over 350 jobs have been created.

CDBG Revolving Loan Fund

Funded through the City of Quincy Community Development Block Grant program, Quincy 2000 Collaborative offers loans and loan guarantees to Quincy businesses that meet the eligibility criteria for microenterprises and job creation initiatives. A microenterprise is a business that has five or fewer employees (including the owner). The owner must meet specific low and moderate income guidelines set by the federal government and must commit to hiring at least 51% low and moderate-income employees.

Business loans and loan guarantees may be used in conjunction with the Quincy 2000 Loan Pool or commercial bank loans. Funds can be used for machinery, equipment, inventory, working capital, leasehold improvements and other start-up expenses. Quincy 2000 will do a preliminary assessment of eligibility based on established criteria and will review all applications for these limited funds.

For more information about either of these programs, call Maureen Rogers at the Quincy Chamber of Commerce at (617) 471-1700 or email us at mrogers@thequincychamber.com

The $700,000 Loan Pool is supported by The Bank of Canton,Colonial Federal Savings BankEastern BankNortheast Community BankBraintree Cooperative BankSouth Shore Bank, and MountainOne Bank.