By Bob Katzen
Governor Baker announced his administration has awarded another $78.5 million in a third round of grants to some 1,595 businesses most impacted by COVID-19.
The total of the grants, administered by the Massachusetts Growth Capital Corporation (MGGC), has now reached $195 million and helped 4,119 businesses. The program still has $473 million of the total original $668 million on hand and will soon be awarding more grants.
Eligible industries for the new program, which offers grants of up to $75,000, include restaurants, bars, caterers, indoor recreation and entertainment establishments, gyms and fitness centers, event-support professionals including photographers and videographers, personal services and retail.
“Supporting small businesses is vital to our economic recovery, and we’ll continue to expedite this grant process to send out funds to provide some much-needed financial relief,” said Gov. Baker.
“Understanding how significant the need for financial assistance is, we’ve taken important steps to ensure these resources are directed toward the businesses that have historically been at a disadvantage even before the pandemic, or are located in communities, especially Gateway Cities, that have suffered disproportionately because of this virus,” said Lt. Gov. Karyn Polito.
“At our core, MGCC has the responsibility to create economic opportunities and provide support for small businesses, and the pandemic has given our mission an enhanced importance,” said MGCC President and CEO Larry Andrews. “As we transition from targeting small businesses to specific economic sectors affected by COVID-19, I want to express my gratitude to all of the partner organizations who helped raise awareness among the businesses with the greatest need and those serving communities that have traditionally been at a disadvantage.”
More information on how to apply and eligibility requirements, can be found at http://www.empoweringsmallbusiness.org