State announces new small business grants

MA Small Business Grants

The Commonwealth of Massachusetts 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 fewer experiencing economic hardship and a loss of income due to the COVID-19 pandemic.

There are 2 programs.  Businesses with 5 or fewer employees should review both before determining which program is best.  

GRANT PROGRAMS:

SMALL BUSINESS GRANTS FOR 5 OR FEWER EMPLOYEES (up to $25,000)

SMALL BUSINESS GRANTS FOR 50 OR FEWER EMPLOYEES (up to $75,000)

PREFERENCE:

Preference 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.

DEADLINE: The application will be open for 3 weeks.  Funds will not be awarded on a first come first serve basis but will be determined based on the application content and the preference categories listed above.  

Application Opens: Thursday, 10/22/2020 at 12:00 PM

Application Closes: Thursday, 11/12/2020 at 12:00 PM

For more information, visit MCGG's website.