The CDC/BAC is an equal opportunity lender, employer and provider. In accordance with Federal law and US Department of Agriculture policy, this institution is prohibited from discrimination on the basis of age, color, disability, family/parental status, national origin, race, religion, sex, gender identity (including expression), sexual orientation, marital status, income derived from public assistance programs, political beliefs, or reprisal or retaliation for prior civil rights activity in any program or activity funded by USDA.


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23 West Main Street  ·  Ware, Massachusetts 01082



Small Business Loan Options

Quaboag Valley Business Assistance Corporation (QVBAC)

QVBAC makes loans from $500 to $100,000 to existing and startup businesses operating within our area that cannot access equivalent funding through conventional resources.

The intent of our program is to customize a loan that is manageable by the borrower and will be paid back.

Interest rates for microenterprise borrowers who qualify under the USDA Rural Microenterprise Program will range from 5% to 10%. Lower rates are associated with lower risk loans (i.e., strong collateral, strong cash flow). Most borrowers will fall in the 7%-8% range.

Categories of borrowers include:

A Microenterprise is usually defined as a small business with a limited number of employees, although sometimes as many as ten (10). Some Microenterprise loans are made to businesses in rural locations and some are made to businesses where the owners are low-moderate income. Loan amounts can range from $500 up to $50,000; our average "micro" loan is $35,000.

We offer loans to small businesses planning to create jobs in the near future. Borrowers have received loans for many purposes, including: start-up equipment, purchase of assets, working capital, and expansion or acquisition of business-related real estate.

Occasionally we receive a loan request from a business that does not qualify as either a Microenterprise or a Job-Creating Small Business. If you are one of these, let's talk. We have made loans outside of these categories for compelling reasons.

Who Should Approach the QVBAC for a Business Loan?

Any existing or pre-venture business that says "yes" to either of the following questions:

Have you approached a bank about financing your business or business idea and been unsuccessful in obtaining the financing you need?

Have you been afraid to seek financing because of the paperwork involved? Because of a poor credit history? Or, because of your inexperience in business or with business loans?

What Criteria do I Need to Meet in Order to be Eligible?

You must first meet the following criteria to be eligible to apply for loan assistance:

Do the majority of your business in one of the following towns: Belchertown, Brimfield, Brookfield, East Brookfield, Hardwick, Holland, Monson, New Braintree, North Brookfield, Palmer, Spencer, Wales, Ware, Warren, or West Brookfield.

Qualify as a microenterprise business with a rural addresses in the towns of Sturbridge, Southbridge, Charlton, Dudley, Oxford.

Be able to prove that you are not eligible for conventional financing, either completely or partially. A referral to us from a banker is often sufficient to document this need. We encourage commercial lenders to contact us when a good customer fails to meet bank underwriting standards.

A minimum of two hours of business development services is available for all potential loan applicants. Please call Janice at 413-967-3001, email us or contact us through our website for more information.

Below are common loan inquiry and application forms. Click on the name of the form to download and print.

To file a complaint of discrimination, write USDA, Director, Office of Assistant Secretary for Civil Rights,  1400 Independence Avenue, SW, Washington, D.C. 20250-9410 or call (202) 690-7442 (voice and TDD).

The Quaboag Valley Community Development Corporation, with Quaboag Valley Business Assistance Corporation, are equal opportunity lenders, providers and employers.

  1. Pre-Application Form (to determine if you meet    basic eligibility)
  2. Business Loan Application
  3. Personal Financial Statement
  4. Management Checklist
  5. Authorization for Credit Report