The Newton Development Corporation’s Small Business IRP Loan Fund promotes new business start-up, expansion and retention projects in the Newton area. The program seeks to foster capital investment and job creation. In addition to business projects, the IRP Program advances community objectives by offering financing for qualifying community-based projects.
Eligible uses of IRP Program funds include real estate acquisition, building construction or improvement, purchase of machinery or equipment, and working capital. To be eligible, businesses must meet the generally accepted definition of a small business—for-profit, independently owned and operated, and not dominant in its field of operation. Applications are reviewed on a competitive basis, with an emphasis placed on projects involving manufacturing, commercial services, wholesale or retail operations.