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Products > MBE Contractor Financing Program

MBE Contractor Financing Program

MHIC's MBE Contractor Financing Program is designed to provide working capital to MBE firms faced with growth constraints due to lack of liquidity and insufficient access to debt capital through banks. Specifically, the program provides receivables financing to expedite receipt of construction requisition funds on MHIC-financed projects.

In 2020 MHIC received a CDFI Fund grant of $500,000, augmented by a MassHousing grant of $90,000, to expand our receivables factoring product from a $500,000 pilot to a $1.59 million program.