Additional businesses will be awarded as soon as next week through the Mass Growth Capital Corporation.
Last week Governor Baker announced a $668 Million Small Business Relief Package to boost the Small Business Grant Program, prioritizing several industries that have continued to be hard hit by the pandemic and public health restrictions. These include:
- Restaurants, bars, and caterers
- Indoor recreation and entertainment establishments
- Gyms and fitness centers
- Event support professionals (photographers, videographers, etc…)
- Personal services
Grants will be offered up to $75,000, but not more than 3 months operating expenses. Funds may be used to pay rent, payroll and benefits, utilities, and to pay down debt, among other expenses.
The Small Business Grant Program, which was established in the fall, currently has a pool of eligible, but currently unfunded, applicants. This additional funding will allow for grant awards to more of those pending applications.
Eligible businesses that already applied to the program but were not funded due to limited funds available will be prioritized for funding and do not need to reapply. New applications for additional funding will be accepted from December 31 through January 15. Massachusetts Growth Capital Corporation (MGCC) will administer the funds and manage applications.
For additional details about eligibility and how to apply, click here. To view Governor Baker’s full press release, click here. As always, as additional information becomes available, we will be sure to share it with you.