Somerville Announces Small Business Recovery Funding

Store front sign that reads come in we’re small business
Starting November 15, Somerville small business owners can apply for forgivable loans of up to $15,000 to assist with financial losses related to COVID-19.

“Our initial waves of business support were designed to address the immediate crisis, but these funds aim to help shift applicants from crisis to recovery mode, so they can better get back on track,” said Mayor Katjana Ballantyne. “Pandemic impacts on small businesses have been far-reaching. The program aims to be sure especially that these local establishments and independent contractors who may not have been able to easily access support through broader programs have an opportunity to better move forward.”

To qualify, businesses must be located within the City of Somerville, have 20 or fewer full-time employees, and be able to demonstrate a decline in revenue during the past two years. Home-based businesses can apply online for up to $5,000 for net revenue loss, and businesses with a physical location can apply for up to $15,000 for net revenue loss.

Apply for Recovery Funds: Somervillema.gov or
https://www.somervillema.gov/departments/programs/small-business-covid-19-relief-fund

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