Loans Available for Snow-impacted Somerville Small Businesses

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Somerville small businesses impacted by snow this winter can apply for $5,000 to $10,000 micro-loans through a new fund, Gov. Charlie Baker and the Massachusetts Growth Capital Corporation (MGCC) announced.

The MGCC, a quasi-public agency charged with spurring economic development across Massachusetts, will make up to $1 million available through a snow storm loan fund intended to help small business regain their financial stability. The program will run through May 2015. More information and the application can be found on the MGCC website at www.massgcc.com/about/article/application-storm-loan-fund.

Businesses will need approval and signoff from a local partner entity, and local signoffs for Somerville can be completed by the City of Somerville’s Economic Development office. For signoffs or additional questions, contact Max MacCarthy at 617-625-6600 x2515 or mmaccarthy@somervillema.gov.

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