Applications Open For Small Business Grants In Worcester

Worcester MA

28 October, 2020

11:58 AM

Description

WORCESTER, MA — Another round of grants aimed at supporting small businesses has become available in Massachusetts. The grants are funded through the CARES Act and the Commonwealth's Supplemental Budget for fiscal year 2021. All told, Massachusetts has $50.8 million to distribute to small businesses throughout the commonwealth. Businesses with five employees or fewer are eligible to receive grants up to $25,000. Businesses with 50 employees or fewer can get up to $75,000 in funding. The grants will be administered by Massachusetts Growth Capital Corporation (MGCC) and will be given to businesses adversely affected by the pandemic. In a news release, MGCC said preference will be given to businesses owned by women, minorities, veterans and members of underrepresented groups that are focused on serving Massachusetts's Gateway Cities. Preference will also be given to businesses that have not received any previous funding throughout the coronavirus pandemic. Small businesses can apply for the funding through Nov. 12. Application details and eligibility criteria are available on MGCC's website. Businesses with five or fewer employees may use the funding to afford business costs like rent, staffing and utilities, and for purchasing personal protective equipment. Businesses with 50 or fewer employees may use the grant funding for employee payroll and benefit costs, mortgage interest, rent, utilities and interest on other debts.