Development Incentives

Community Development Authority (CDA) Business Loan Program

The City of Peabody’s proactive approach to economic development resulted in the establishment of a revolving loan pool of funds administered by the Department of Community Development and Planning and a five member quasi-public Community Development Authority (CDA). The Business Loan Program is a flexible source of loan funds for commercial and industrial projects, the purpose of which is to encourage the creation/retention of quality jobs and to increase the tax base.

The CDA has helped hundreds of applicants retain or expand an existing business and/or help attract desirable new business to the City of Peabody by providing loans for equipment, land and/or site acquisition, construction and redevelopment. The CDA is able to provide below-market, low-interest loans to be used to help bridge the gap between the cash and assets of a business owner and the equity requirements needed to obtain a commercial loan from a bank. The program is designed to provide no more than 20% of a project’s total financing requirements.

Contact Information

Stacey Bernson

Assistant Director of Community Development

Stacey Bernson

Assistant Director of Community Development

Peabody-Salem Coalition Brownfields Revolving Loan Fund

The US EPA awarded Peabody and Salem a $950,000 grant in 2014 to capitalize a
revolving loan fund to support environmental remediation of brownfields and
facilitate their successful redevelopment.

Contact Information

Brendan Callahan

Assistant Director of Planning

Brendan Callahan

Assistant Director of Planning

Small Business Administration (SBA)

The SBA offers small business loans. Please see the website for more information:
http://www.sba.gov/loanprograms

Business Liaison
business@peabody-ma.gov

24 Lowell St, Peabody, MA 01960

978-532-3000

City Hall

978-538-5775

Office of Business Liaison