Mayor Scott Galvin and the City of Woburn wish to alert the business community to two sources of grant funds which are currently, or soon will be, available to certain small businesses.
Individual grants of up to $10,000 are available to commercial enterprises that have five (5) or fewer employees (1 or more of whom owns the enterprise) and which are for-profit entities. Approximately $275,000 remains available to support small businesses that have physical locations in the City of Woburn.
Massachusetts Growth Capital Corporation (“MGCC”) is administering and overseeing the grant program. Applications must be made online and submitted directly to MGCC via electronic submission. The application form and instructions are available at https://massgcc.submittable.com/submit. Applications will be accepted on a rolling basis until funds are exhausted, so applicants are encouraged to apply as soon as possible.
SMALL BUSINESS RELIEF PROGRAM GRANTS AVAILABLE STARTING DECEMBER 31, 2020
Massachusetts Governor Baker announced last week that additional grants will be made available to eligible small businesses through MGCC. Small Business Grant Program monies will be used to fund grants for the industries the State has judged most hard-hit during the pandemic.
Industries eligible to apply for funding under this grant program include: Restaurants, bars, and caterers; indoor recreation and entertainment establishments; gyms and fitness centers; event-support professionals (photographers, videographers, etc.); personal services establishments; and retail.
The new business relief program will offer grants of up to $75,000, but not more than three months’ operating expenses, to be used for employee wage and benefits costs, space-related costs, and debt service obligations.
The online application portal for the new program will open on Thursday, December 31, 2020 and will close on Friday, January 15, 2021. Awards are expected to be announced in early February.
More details on how to apply and eligibility requirements for this grant are available at www.empoweringsmallbusiness.org.