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February 23, 2022

 

State Launches New Small Business Grant Program Aimed at New Applicants & Underserved Markets

 
On Wednesday, Gov. Charlie Baker announced the launch of a new round of small business grants, with funds from the state’s share of the American Rescue Plan Act (ARPA).  Available through the MA Growth Capital Corporation (MGCC), the state has released $75,000,000 to support small businesses negatively impacted by the COVID-19 pandemic.  The funds will be administered through two different grant programs, the New Applicant Grant Program and the Inclusive Grant Program. 
 
The New Applicant Grant Program has $25,000,000 available to support small businesses negatively impacted by COVID-19 that have not previously received financial relief from MGCC’s COVID-19 Relief Grant Programs.  The Inclusive Grant Program has $50,000,000 available to support small businesses negatively impacted by COVID-19, targeting 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.
 
The maximum grant available in each program is $75,000. 
 
For more information visit:  https://www.empoweringsmallbusiness.org/covid-19-response/new-applicant-inclusive-grant-programs

 


The City of Beverly is Accepting Applications for ARPA Small Business Grants

The City of Beverly announced a grant opportunity for local small businesses! Applications for grants of up to $50,000 are now being accepted.  Small businesses in the Hospitality, Tourism, Recreation, Arts, Family Childcare, & Retail industries are eligible to apply. 

On Tuesday, Beverly Mayor Mike Cahill announced a timely and important small business grant program utilizing local ARPA dollars.  With grants up to $50,000, this model local program is an important opportunity for struggling Beverly small businesses to get grant assistance in a similar way prior federal and state programs (ie, PPP, MA Growth Capital Corp) served as a life line in 2020 and 2021.  If you qualified for the prior federal and state small business relief programs, you may also qualify for this innovative local program.  RAM encourages you to review the program, which will be open for applications for 3 weeks.  If you have any questions on the program or your eligibility, please contact Beverly’s ARPA Manager Jaimie Corliss at [email protected].
 
RAM hopes the innovative leadership exhibited in this program will serve as a model for other communities across the Commonwealth.   With federal and state COVID grant programs long exhausted, now is the time for local government to step up, assist and save our small businesses. 
  
Learn more here: https://www.beverlyma.gov/ARPA