Development Loan

Award: Up to $500,000

Timing: This program has closed as we move into the implementation phase of our strategic plan. For more information, please see Brian Whitney’s blog of June 28, 2018.

Intent: Up to $500,000 for R&D activities, similar to MTI’s Seed Grant program, but allowing for larger, more comprehensive projects. Unlike Seed Grants, Development Loans also allow for some sales, marketing and overhead expenditures.

The amount of funding requested for MTI Development Loans requires at least a 1:1 ratio of matching funds, providing an equal or greater co-investment in the application proposal.  Please see the following PDF link to learn more about definitions of matching funds allowed in MTI applications click here.

Development Loan Process

The amount of funding requested for MTI Development Loans requires at least a 1:1 ratio of matching funds, providing an equal or greater co-investment in the application proposal.  Please see the following PDF link to learn more about definitions of matching funds allowed in MTI applications click here.

Development Loan Process

There were four stages to the MTI Development Loan Application process:

  • Stage 1: Concept Review/Letter of Interest
  • Stage 2: Application Submission
  • Stage 3: Application Review
  • Stage 4: Post-Review Activity


Stage 1:
Submit a Letter of Interest package.

Prospective applicants were required to meet with MTI staff prior to submitting a Letter of Interest. Applicants with a Letter of Interest package submitted by July 13, 2018 must submit a final application by August 1, 2018 for consideration.


Stage 2: Application Submission 

This stage included both the draft application and final application submission. Review the Development Loan Application Instructions and download the required Application Forms.

Use the Application Checklist to organize your final application as one complete PDF file for upload into the GIFTS Online Application Portal.

 

Links to Individual Application Forms:

Registration Form
Appendix.E
Application Instructions
Application Checklist
Form B & D – Period and Project Budget forms
Form C – Intellectual Property
Form E – Repayment Plan
Form F – Economic Impact Summary
Form G – Credit Authorization
Sample Commitment Letter (Word) (PDF)


Stage 3:  Application Review

The Application Review includes independent technical and financial reviews, as well as review by the sector-specific Technology Board. Applications recommended for consideration will be forwarded to the MTI Board of Directors for a final funding decision.

Applications submitted by August 1 will be reviewed through our existing process. These applications, if recommended for funding by our Technology Board reviewers, will be presented to the Board of Directors at the October meeting.

Peer Reviewer Guidelines are provided to our reviewers, and the Technology Boards use the Review Committee Guidance. Applicants will receive a copy of all reviewer feedback and be allowed to respond in writing.


Stage 4: Post-Award Activity

Post-Award activity includes executing the Development Loan Agreement and Security Agreement (as needed).

Awardees will also update Budget Form B and D as needed and will be responsible for completing the Reporting Requirements or each project period.