Additional funding will be made available for qualifying Massachusetts small businesses
The Baker Administration announced that additional funding will be made available for qualifying Massachusetts small businesses. The program starts February 23 with the application period ending on April 4, 2022. Grants amounts will be between $10,000-$75,000 and administered through the Massachusetts Growth Capital Corporation.
There are two types of programs available. The New Applicant Grant Program is for businesses that have not been previously awarded MGCC aid, while the Inclusive Grant Program is for “economically disadvantaged and historically underrepresented groups”.
The funds can be used for:
- Employee salaries and benefits
- Interest on debt obligations incurred after 3/3/21
- Pivoting businesses for COVID-19-related pandemic costs
- Business mortgage, rent, and utilities
To see if your small business is eligible for either of these programs or for additional information visit: https://www.empoweringsmallbusiness.org/covid-19-response/new-applicant-inclusive-grant-programs