The Boston Local Development Corporation (BLDC) is a private, nonprofit organization that provides low-interest loans to small businesses in Boston’s commercial, industrial, and service sectors to promote job creation and retention. The day-to-day operations are managed by the Boston Planning & Development Agency (BPDA)’s Financial Services department. 

What the BLDC does:

• Provides Loans: The BLDC offers financing to help small businesses with working capital, construction, expansion, or the purchase of equipment. 
• Fosters Economic Growth: Its mission is to increase employment opportunities for Boston residents by supporting the growth and retention of businesses in the city. 
• Focuses on Small Businesses: It serves small businesses in commercial, industrial, and manufacturing industries. 
• Operates with a Public Partnership: While a private nonprofit, its operations are supported by the City of Boston through the BPDA. 

How it works:

• Independent Board: The organization is governed by an independent board of trustees. 
• BPDA Support: The BPDA’s Financial Services department handles the daily operational aspects of the BLDC’s programs. 
• bostonbusinessloans.org: Small business owners interested in learning more or applying for a loan can visit the www.bostonbusinessloans.org/bldc website.