New Grants Available for Massachusetts Small Businesses
Massachusetts Governor Charlie Baker announced a new state grant program last week to offer financial relief to businesses in the state most harshly impacted by the COVID-19 pandemic.
The $668 million program will use a combination of state funds and previously apportioned federal funding and be administered by Massachusetts Growth Capital Corp (MGCC), the same agency responsible for administering the Small Business Grant Program, which was established back in the fall.
According to the Baker administration, the new relief program will offer grants up to $75,000, but not more than three months’ operating expenses, and can be used for employee wage and benefits costs, space-related costs, and debt service obligations.
Eligible industries include restaurants, retail businesses, bars, gyms, personal services businesses & others most affected by the COVID-19 pandemic.
Businesses that had previously applied to the state program, but were not funded due to limited funds, will be prioritized for funding first and do not need to reapply. New applications will be accepted beginning on Thursday, December 31 and will close on Friday, January 15.
For more details, including eligibility requirements and how to apply, click here.
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