Two Program Options for Small Businesses
Massachusetts Growth Capital Corporation has begun accepting applications for two new grant programs to support small businesses negatively impacted by the COVID-19 pandemic:
- New Applicant Grant Program – available to businesses negatively impacted by COVID-19 that have not previously received financial relief from MGCC’s COVID-19 Relief Grant Programs.
- Inclusive Grant Program -available to businesses that focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups, underserved markets, and those owned by minorities, women, veterans, disabled individuals, or those that identify as part of the LGBTQ+ community.
Small Business Owners have until April 4th, 2022 to apply.
Grants will range between $10,000 – $75,000.
Eligible uses for grant funding, for each program, include:
- Employee payroll and benefits costs
- Interest on other debt obligations incurred after March 3rd, 2021
- Costs incurred to pivot a company due to COVID-19 pandemic
- Business mortgage or rent and utilities