Commercial Acquisition Assistance Program
Creating pathways for Boston’s small business owners to build wealth through property ownership, securing long-term stability for their businesses and neighborhoods.
The Commercial Acquisition Assistance Program (CAAP) helps eligible Boston small businesses buy commercial real estate, fostering wealth-building, community growth, and job creation. This public-private initiative, led by the Office of Economic Opportunity and Inclusion, expands access to capital, ensuring all entrepreneurs, businesses, and investors share in economic growth.
We do this by:
- Helping businesses access funds by making loans more affordable.
- Keeping commercial corridors stable and preventing displacement.
- Training business owners through financial education and personalized technical assistance.
- Empowering small businesses to build inclusive wealth.
- Bringing together for-profit and non-profit organizations to support businesses for the long term.
-
-
CONNECT WITH CAAP
-
617-635-2477
About the Program
The Challenge: Closing the Wealth Gap
Boston’s widening wealth gap remains a major challenge. Traditional systems have long restricted access to financial resources, limiting economic mobility. Removing these barriers is key to fostering stability and creating new paths to equity.
Some of these systemic barriers include:
Lenders require collateral, strong credit, and large down payments, making it especially hard for minority business owners to get loans.
As real estate becomes more expensive in historically diverse neighborhoods, many businesses can no longer afford to stay.
Even when financing is available, buying and managing a property can be difficult for small business owners who don’t have experience.
The Solution: CAAP’s Comprehensive Change Model
The Commercial Acquisition Assistance Program (CAAP) helps small businesses overcome barriers to commercial property ownership. Using a combination of financial and knowledge tools, CAAP expands access to capital often seen as "too risky," giving disadvantaged business owners equal opportunity to secure mortgages, build equity, and drive economic growth.
KNOWLEDGE Tools:
-
Community Building: Fosters peer-to-peer learning and collaboration among business owners, lenders, and support organizations.
- Legal and Transactional Support: Provides guidance through the property acquisition process, helping businesses navigate contracts, zoning, and financial obligations.
- Financial Literacy and Training: Equips business owners with knowledge on commercial property management, asset growth, and wealth transfer strategies.
FINANCIAL TOOLS
- Down Payment Assistance: Helps small businesses meet equity requirements, reducing upfront financial burdens.
- Loan Loss Reserve: Lowers lender risk, increasing loan approvals.
- Interest Rate Buy-Downs: Lowers borrowing costs, ensuring that commercial real estate financing is affordable and sustainable.
Building on Proven Success
Since 2022, the Commercial Acquisition Assistance Program (CAAP) has participated in four transactions intended to test its potential. Providing on average 10% down payment assistance, in the form of 100% forgivable loans, the program enabled borrowers to secure $30 million in additional funds from traditional bank lending and grants that otherwise would have been unattainable.
| YEAR | MILESTONE |
|---|---|
| YEAR |
2021 - 2024
|
| MILESTONE |
Proof of Concept Gained key insights on attracting and assessing small business participants and program partners through four transactions where the City's investment leveraged $40M in financing from other institutions. |
| YEAR |
2023
|
| MILESTONE |
Rappaport Summer Fellow Rappaport Summer Fellow gives shape to the program and applies for funding. |
| YEAR |
2024
|
| MILESTONE |
Program Design and Funding Foundation funding supports program development. |
| YEAR |
2025
|
| MILESTONE |
Program Build Out and Implementation Finalize operations, onboard partners, public outreach, and funding. |
CAAP IN ACTION: PROJECTS DRIVING SMALL BUSINESS OWNERSHIP
Join Us in Making Boston a Home for Everyone
For more information on the Commercial Acquisition Assistance Program (CAAP) or how to support the program, contact Filomania Falcucci at filomania.falcucci@boston.gov or fill out this form. Together, we can create a more inclusive and equitable Boston.
Small Business Resources
Resources
-
-
CONNECT WITH CAAP
-
617-635-2477
