New MA Small Business Relief Grant Program

New Massachusetts Small Business Relief Grant Program
Posted on 12/24/2020

New Massachusetts Small Business Relief Grant Program

The Baker-Polito Administration launched a $668 million program to provide financial assistance to Massachusetts small businesses impacted by the COVID-19 pandemic.

 

Earlier this week, the Administration announced nearly $49 million in grants through the Massachusetts Growth Capital Corporation (MGCC) COVID-19 Small Business Program to support over 1,158 small businesses. Additional grants will be made available to eligible small businesses through MGCC. The Small Business Grant Program was established in the fall, and currently has a pool of eligible applicants awaiting funding. This additional funding will allow the Administration to award more of those pending applicants. Eligible businesses that already applied to the program, but were not funded due to limited funds available, will be prioritized for funding first and do not need to reapply.

The funds will also be used to stand up an additional grant program at MGCC. This new program will target the industries most hard-hit during the pandemic.

Eligible industries for the new program include:

  • Restaurants, bars, caterers
  • Indoor recreation and entertainment establishments
  • Gyms and fitness centers
  • Event-support professionals (photographers, videographers, etc.)
  • Personal services
  • Retail

The new business relief program would offer grants up to $75,000, but not more than three months’ operating expenses, to be used for employee wage and benefits costs, space-related costs, and debt service obligations.

The online application portal for the new program will open on Thursday, December 31, and will close on Friday, January 15. Awards are expected to be announced in early February. More details on how to apply and eligibility requirements are available at www.empoweringsmallbusiness.org.