Sector-Specific Relief Grant Program for Massachusetts Small Businesses
**If you submitted an application during the first round of Small Business Grants,YOU DO NOT NEED TO SUBMIT AN ADDITIONAL APPLICATION. Applications from the first round of grants will be used in this second round.**
The Commonwealth of Massachusetts has made an additional $668 million available to support businesses through new and existing programs. Massachusetts Growth Capital Corporation (MGCC) will target a portion of these funds to sectors experiencing the most significant economic hardship and a loss of revenue due to the COVID-19 pandemic.
These funds were appropriated through the Commonwealth’s Operating Budget for Fiscal Year 2021 (FY21) as well as the CARES Act of 2020.
Who Should Apply:
Preference will be given to the following sectors:
Restaurants, bars, caterers, and food trucks that collect and remit meals tax
Indoor Recreation or Entertainment Establishments
Indoor entertainment establishments (e.g. movie theaters, comedy clubs, performing arts venues/organizations)
Event Support Companies - primary source (more than 50%) of revenue is event-related
Photography studios, videography studios, florists, limo services, event planning companies, event rentals, performers, convention and trade show organizations
Businesses with brick and mortar locations that collect and remit sales tax
All other eligible business types
This business relief fund targets the hardest hit small businesses that have an exceptional need of cash relief. Though many businesses have been negatively affected by the pandemic, not all needs are equal. To ensure that these limited funds get to the most severely impacted businesses, you SHOULD NOT APPLY if you:
are not showing an operating loss due to the coronavirus pandemic
have access to other sources of relief
have been able to continue to operate without significant financial distress
have adequate available reserves
Additionally, larger companies that are better positioned to endure this economic downturn and COVID-19 related restrictions should not apply.
An excessive number of applications submitted by businesses with lesser need will delay the awarding of grants to businesses facing extraordinary circumstances. An application review for a company without a truly exceptional need delays assistance for a business at risk of permanent closure.
Sector-Specific Relief Grant Program ...
Date and Time
Thursday Dec 31, 2020Friday Jan 15, 2021
12/31/2020 at 12:00 PM – Application opens.
01/15/2021 at 11:59 PM – Application closes.
Visit the Massachusetts Growth Capital Corporation website by clicking HERE!