Up to $75,000 FOR SMALL BUSINESSES
On February 23, 2022, the Commonwealth of Massachusetts made $75,000,000 available to support small businesses negatively impacted by the COVID-19 pandemic. These funds will be available through two different grant programs, the New Applicant Grant Program and the Inclusive Grant Program, administered by the Massachusetts Growth Capital Corporation.
Applications for each grant program will be accepted now through Monday, April 4, 2022.
MGCC will award grants ranging from $10,000 to $75,000 to those selected.
Some eligible uses of these funds include:
- Employee payroll benefits costs
- Interest on other debt obligations incurred after March 3, 2021
- Cost to pivot company due to COVID-19 pandemic
- Business mortgage or rent and utilities
Grant qualifications include:
- MA based business owned by an individual
- Has been negatively impacted by the COVID-19 pandemic
- 2-50 full-time employees
- Is a for-profit entity established prior to 09/30/2020 and is currently in operation
- Revenues between $40,000 – $2,500,000
For more information about each grant program, as well as a full list of eligibility requirements and approved use of funds, please see the links below.