The Commonwealth of Massachusetts
has announced $50.8 million in grants available to support Massachusetts small businesses, microenterprises, and their employees, families and communities. Massachusetts Growth Capital Corporation (MGCC)
will be administering these funds, available to businesses with fifty (50) employees or less experiencing economic hardship and a loss of income due to the COVID-19 pandemic.
These funds were appropriated through the Commonwealth’s Supplemental Budget for Fiscal Year 2021 (FY21) as well as the CARES Act of 2020 and are divided into two programs. If you have five (5) or fewer employees, review both programs carefully before deciding which one to apply for.
Preference for this grant funding will be given to small businesses whose owners are women, minorities, veterans, members of other underrepresented groups, who are focused on serving the Gateway Cities of Massachusetts, and those most negatively impacted by the COVID-19 pandemic. Preference will also be given to applicants that have not been able to receive aid from other federal programs related to COVID-19.
TIMELINE: Application will be open for 3 weeks. Funds will NOT be awarded on a first come first serve basis. The application requires some backup information that may take time to compile, so we recommend starting the application process now. But your application will receive full consideration if it is
- Application Opens: Thursday, 10/22/2020 at 12:00 PM
- Application Closes: Thursday, 11/12/2020 at 12:00 PM
NEED HELP APPLYING?:
Contact your business advisor or business support organization, and stay tuned for more information regarding application support for small businesses applying for this funding.