Small Business Assistance
As a result of the COVID-19 global pandemic, small businesses have been facing economic hardships. Mayor Hedlund and the Town of Weymouth have established a Small Business Assistance Program to aid those Weymouth Businesses in need of financial assistance during this time. Eligible, for-profit businesses may apply for assistance in the form of a grant. In addition, the Town has been awarded Community Development Block Grant Funding (CDBG) to assist qualifying small businesses.
For an application for small business assistance, please contact SBA@weymouth.ma.us or call Kate Marshall at the Planning & Community Development Department: 781-340-5015
The grant application period has been extended through December 31, 2020. Awards will be made on a first come, first serve basis to qualifying businesses. In the event funds are still available after the end of the application period, the period will be extended until all funds are exhausted.
Local Small Business Grant Awards
These Grants can be used to help address fixed debts, payroll, accounts payable, lost sales, lost opportunities, and other working capital expenses that could have been recognized had the COVID-19 pandemic not occurred. For the purpose of this fund, a "small business" will be defined as a for-profit entity with:
- Fewer than thirty-five (35) employees;
- Less than $2,000,000 in annual revenue; and
- Registered with, in good standing with, and operating in, the Town of Weymouth (excluding chain or corporate franchises)
Grant awards will be offered in 3 categories, in amounts up to $2,500, $5,000, or $10,000 depending on eligibility.
$2,500 RELIEF GRANTS | $5,000 RELIEF GRANTS | $10,000 RELIEF GRANTS |
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*A business is in good standing if they have an active license in the town and no outstanding taxes or issues with the board of health, police department, or fire department.
The Town will review annual revenue based on the submitted forms and tax return, along with the statement of need, to determine eligibility. Annual revenue will be considered when making a determination for need.
Businesses must provide information if they are receiving other Federal Assistance or COVID-related funding assistance.
Community Development Block Grant Funds for Small Businesses under the CARES Act
Due to the COVID-19 pandemic, the town received a special award of Community Development Block Grant funds (CDBG) under the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) for preventing, preparing for, and responding to the coronavirus. Such funds may be used to provide small business grants to for-profit small business, including low or moderate income micro-enterprises (businesses owned by a low or moderate income owner with five or fewer employees INCLUDING the owner) and other for profit small businesses to assista with business rent, lease, or mortgage costs of with utiltiies. Approximately $140,000 was made available for such small business grants.
See the CDBG criteria here to determine if your business may qualify.
See the Policies and Procedures for CDBG-CV Small Business Grant Fund for details on the CDBG-CV funds for small businesses. Note that prior recipients of CDBG-CV Small Business Grant funds may reapply once for assistance under the CDBG-CV program.