Access to Capital

Boston Industrial Development Financing Authority

About Us

The Boston Industrial Development Financing Authority (BIDFA) promotes economic growth and employment in the City of Boston by issuing bonds that finance the capital needs of the city’s businesses and institutions. It is guided by Boston residents with professional expertise in real estate development and finance.

BIDFA has helped issue nearly $550 million in bonds and has helped to create and retain over 20,000 jobs since 1972.

In 1971, BIDFA was created under Massachusetts General Laws Chapter 40D. In 1972 it was constituted as a board of the City of Boston and began its work as an affiliate of the Economic Development and Industrial Corporation of Boston (EDIC), a division of the Boston Redevelopment Authority (BRA).

The Board of Directors is a board of the City of Boston. The following directors are appointed by the mayor:

  • James H. Greene
  • Cynthia B. Keliher
  • Katherine Kottaridis
  • Michael A. Vance
  • Scott Bosworth

Our Loans

Financing available through BIDFA includes:

  • tax-exempt bonds for non-profits,
  • tax-exempt industrial development bonds (IDBs) for manufacturers,
  • and taxable bonds.

Our bonds may be used to finance:

  • acquisition & construction,
  • expansion,
  • and capital expenses (equipment, furnishings and other capital needs

By utilizing BIDFA, qualified borrowers can finance their capital needs through the issuance of tax-exempt debt, generally resulting in significant interest cost savings. The credit of the borrower, and not that of the City of Boston, BIDFA, or the Commonwealth of Massachusetts, is pledged to repay the bonds.

Success Stories

Boston Renaissance Charter Public School was issued a $16.6 million tax-exempt 501 (c)(3) bond through BIDFA.

  • The bond issuance allowed for the construction of a new campus in Boston’s Hyde Park neighborhood suited to the school’s specific educational needs.
  • The 107,000 square foot, state-of-the-art facility provided an exceptional learning environment for more than 800 Boston children, and employs approximately 176 teachers and administrative staff.

East Boston Neighborhood Community Health Center (EBNHC) was issued a $11.2 million tax-exempt 501 (c) (3) bond through BIDFA.

  • The clinic provides over 300,000 patient-visits per year, serving the diverse and low-income population of East Boston, Winthrop, Revere, and Chelsea.
  • EBNHC's patient roster grew annually by several thousand patients
  • Despite having twelve buildings totaling almost 260,000 SF, they had reached capacity as a result of this growing demand, the organization invested in this new facility to better serve its patients.
  • The bond issuance provided the funds for the construction of a new clinical/office building containing approximately 48,000 square feet of gross floor area on four levels.  The project includes facilities for clinical, office, and administration and contains related retail space at the ground level.

Contact Us

To find out more about BIDFA, feel free to reach out to Bill Nickerson, Interim Executive Director, by email or at 617.918.6262.