New Hampshire Business Finance Authority

What New Hampshire Business Finance Authority does

New Hampshire Business Finance Authority (BFA), established by New Hampshire state law in 1992, is a self-funding quasi-governmental finance authority headquartered in Concord, NH. Its mission is to expand credit availability to New Hampshire businesses through a suite of credit enhancement, direct lending, bond financing, and real estate development programs. The BFA does not lend directly to end-borrowers; rather, it operates exclusively through a contracted intermediary channel — a network of more than 15 New Hampshire-based banking partners (including Mascoma Bank, Ledyard National Bank, Bank of New Hampshire, Enterprise Bank, Service Credit Union, Meredith Village Savings Bank, and BankProv), regional development corporations (REDC, SEDC), and state and federal agencies (Department of Business and Economic Affairs, EPA, U.S. Department of Defense). Its product portfolio includes the Capital Access Program (loans up to $500,000 via participating lenders), Business Energy Loans, Gap Financing, Early Stage Capital, Loan Guarantees, Loan Participations, Temporary Loans, tax-exempt Bond Financing, Real Estate Development (including lease-purchase structures), and the statewide Commercial Property Assessed Clean Energy and Resiliency (C-PACER) program.

Name

New Hampshire Business Finance Authority

Legal name

New Hampshire Business Finance Authority

Website

https://nhbfa.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

The New Hampshire Business Finance Authority is a 1992 quasi-governmental, self-funding finance authority that delivers credit enhancements, direct loans, and tax-exempt bond financing through NH banking partners to support SMBs, manufacturers, healthcare, and nonprofit organizations across the state.

Ownership category

akta.pro rank

Product category

Economic Development Finance

NAICS

Commercial Banking (522110)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

Development Finance & Blended Finance Facilities (BPADAOAD), Public Mortgage Insurance & Government Credit Guarantee Programs (FSALAKAD), Municipal/Local Government Development Banks (FSABAKAI)

Keywords

• Business credit enhancement
• Tax-exempt bond financing
• Loan guarantee programs
• Commercial lending
• Economic development finance

Headquarters

HQ city

Concord

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Loan Guarantee Programs: The BFA provides credit enhancements and loan guarantees to help businesses that don't fit conventional lending criteria access capital through partner banks.
2. Bond Issuance: The BFA issues tax-exempt bonds for acquisition, renovation, construction, and equipment purchases. Uses state-backed bonds to construct facilities and lease them to companies (lease-purchase structures).
3. Direct Lending Programs: Provides direct financing, gap financing, and various loan programs including CAP (Capital Access Program), Business Energy Loans, Early Stage Capital, and Temporary Loans.
4. C-PACER Administration: Administers Commercial Property Assessed Clean Energy and Resiliency (C-PACER) program statewide, providing a framework for municipalities while enabling commercial property owners to access private-sector financing for energy efficiency improvements.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

The BFA provides credit enhancement programs, direct lending products, and tax-exempt bond financing to help New Hampshire businesses secure capital for expansion and job creation. Its offerings include the Capital Access Program, Business Energy Loans, Direct Gap Financing, Early Stage Capital, Loan Guarantees, Loan Participations, Temporary Loans, C-PACER program administration, and Bond Financing, distributed through a network of New Hampshire banking partners and regional development corporations.

Product overview

The New Hampshire Business Finance Authority (BFA) operates as a self-funding quasi-governmental organization offering a comprehensive suite of credit enhancement and direct lending products to foster economic development in New Hampshire. The portfolio consists of multiple loan programs including the Capital Access Program (CAP) for small businesses up to $500,000, Business Energy Loans for sustainability upgrades, Direct Gap Financing for expansion needs, Early Stage Capital for startups, Loan Guarantees and Participations for co-lending with banks, Temporary Loans for short-term needs, and C-PACER for commercial property energy improvements. The BFA also facilitates Bond Financing for tax-exempt debt issuance and Real Estate Development financing. Additionally, BFA recently launched the nation’s first Bitcoin-backed municipal bond program through the Waverose Finance Project, enabling up to $100 million in crypto-collateralized financing. These programs work in conjunction with New Hampshire’s banking sector to expand credit availability for manufacturers, small businesses, healthcare providers, and nonprofit organizations across the state.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Access Program (CAP)

Quantifiable outcome

• 5,250+ businesses supported
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

13 partnerships are on record, tiered core and minor.

• Thorndike DevelopmentcoreStrategic or Co-development PartnerDeveloper partner for Mohawk Tannery remediation project. Will purchase remediated property and develop 546-unit residential community including condos and apartments (20% affordable housing).
• BitGo Trust CompanycoreTechnology or IntegrationServes as custodian for Bitcoin held in segregated custody backing the $100 million Bitcoin-backed municipal bond issuance. Key service provider in Waverose Finance Project structure.
• Wave Digital AssetscoreTechnology or IntegrationDigital assets firm that partnered with Rosemawr Management to design the world's first Bitcoin-backed municipal bond. Key service provider in structuring the Waverose Finance Project.
• Rosemawr ManagementcoreStrategic or Co-development PartnerFinancial firm that co-designed the Bitcoin-backed municipal bond structure with Wave Digital Assets for the Waverose Finance Project.
• OrrickminorImplementation/ SI/ Consulting PartnerLegal structuring advice for the $100 million Bitcoin-backed municipal bond issuance.
• Department of Business and Economic Affairs (BEA)coreStrategic or Co-development PartnerState agency partner collaborating with BFA on economic development initiatives including GreenSource Fabrication project and advanced manufacturing hub development.
• Lebanon City CouncilminorStrategic or Co-development PartnerFirst New Hampshire city to establish C-PACER district; unanimous vote to support commercial property energy efficiency financing.
• New Hampshire Executive CouncilcoreStrategic or Co-development PartnerExecutive Council approval required for BFA bond issuances and major financing transactions, including New Balance facility partnership.
• EPAcoreStrategic or Co-development PartnerFederal partner in Mohawk Tannery Superfund site remediation. Oversight of cleanup of 56,000 cubic yards of contaminated material.
• New Hampshire Department of Environmental ServicescoreStrategic or Co-development PartnerState agency partner in Mohawk Tannery remediation project; co-oversight with EPA of contaminated site cleanup.
• City of NashuacoreStrategic or Co-development PartnerMunicipal partner in Mohawk Tannery remediation and 546-unit residential redevelopment project.
• BitGo Bank & TrustcoreTechnology or IntegrationServes as custodian for Bitcoin collateral in Bitcoin-backed municipal bond structure.
• New Hampshire Community Development Finance Authority (CDFA)coreStrategic or Co-development PartnerJoint administration of NH Nonprofit Response Fund during COVID-19; partnered to provide loans and grants up to $100,000 to nonprofits.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Massachusetts Growth Capital Corporation: Massachusetts state-chartered economic development finance corporation providing small business loans, loan guarantees, and direct lending to growing companies—directly comparable in mandate, programs, and customer base to NHBFA.
• Connecticut Innovations: Quasi-state venture and economic development financing authority in Connecticut that deploys capital to high-growth and SMBs in the same New England corridor NHBFA serves; closely comparable business model and program menu.
• Vermont Economic Development Authority (VEDA): Vermont's state development finance authority providing direct loans, loan guarantees, and bond financing to businesses, farms, and nonprofits—an almost one-for-one functional peer to NHBFA in a neighboring state.

Regional players

• Maine Department of Economic and Community Development: Maine's primary state-level economic and business development finance agency; similar single-state mandate to NHBFA with overlapping program types (CDBG, loan guarantees, SBA partnership lending) in an adjacent region.
• Empire State Development: New York's umbrella economic development authority offering bond financing, tax incentives, and direct lending—comparable in program breadth and innovation focus (e.g., green bonds) though operating at a much larger scale.
• Rhode Island Commerce Corporation: Rhode Island's state quasi-governmental economic development and finance agency offering small business lending, tax-exempt bonds, and incentives—an equivalent regional peer in a neighboring New England state.

Broad incumbents

• U.S. Small Business Administration (SBA): Federal agency administering government-backed loan guarantee and direct lending programs that mirror NHBFA's CAP, GAP, and SBAP programs; the national incumbent whose programs NHBFA complements at the state level.
• U.S. Treasury CDFI Fund: Federal source of New Markets Tax Credits, Capital Magnet Fund, and FA/TA grants that flow to community development lenders—an upstream capital provider that NHBFA partners with and competes against for community development capital.
• Massachusetts Development Finance Agency (MassDevelopment): Massachusetts's larger-scale state development finance authority offering tax-exempt bonds, term lending, and real estate financing—comparable product menu to NHBFA, particularly bond issuance, but operating at materially larger scale and directly competing for the same regional industrial deals.

Emerging players

• New Hampshire Community Development Finance Authority (CDFA): NH's sister state authority for community development, with which NHBFA jointly administered the NH Nonprofit Response Fund; complementary but smaller-scale, focused on nonprofits and community facilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nh-business-finance-authority

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Hampshire Business Finance Authority