Baker-Polito Administration Announces COVID-19 Grants for Small Businesses

The Baker-Polito Administration announced a $774 million comprehensive plan to stabilize and grow the Massachusetts economy. The plan focuses on getting people back to work, supporting small businesses, fostering innovation, revitalizing downtowns and ensuring housing stability. Partnerships for Recovery begins today by directing $115 million in new funding to small businesses and Main Streets hardest hit by the COVID-19 pandemic and for workforce training efforts. Additionally, the Administration is aligning multiple funding sources, both existing and proposed, to appropriately respond to the crisis. Click here for the full press release and details of funding opportunities.
 
Small Business Grant Program Details
 
Massachusetts Growth Capital Corporation (MGCC) is administering the Small Business Grants program, with $50.8 million available beginning today. Grant awards range between $25,000 – $75,000, and eligibility criteria and applications are available here.
 
As part of this grant program, preference is given to small businesses whose owners are women, minorities, veterans, members of other underrepresented groups, or focused on serving the Gateway Cities of Massachusetts, who have been unable to open and those most adversely impacted by the COVID-19 pandemic. Preference is also given to applicants that have not been able to receive aid from other federal programs, including PPP and other relief related to COVID-19.
 
The program has two distinct funding “doors” based on business size, with different eligibility criteria, which is available online. Applicants must review the information to determine which program to proceed with applying. 
 
Applications are available beginning October 22 and close November 13, 2020.

Learn more at www.empoweringsmallbusiness.org/covid-19-response/covid-19-grants-massachusetts-small-businesses 

Page was posted on 10/22/2020 2:33 PM
Page was last modified on 10/22/2020 2:35 PM
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