Creating opportunities for people to live, work, & thrive on the Lower Cape
Inside Scoop - October 2020
Bringing you the latest tools to help your business.

October is almost over and, like everything in 2020, it is unlike any other year. Please remember, no matter what your business needs help with, CDP staff is available to help you plan and prepare for the uncertain times ahead.

We have been working hard reviewing applications for our forgivable loan program. If you have 5 or fewer employees and qualify as low-to-moderate income, we still have funds available.

What you will find in October's Inside Scoop:

  • MGCC Small Business Grant Program
  • Last Chance to register for Digital Small Business Tools - November 5th
  • CDBG CV-19 Forgivable Loan Program - Funds still available!
  • QuickBooks Online workshop starts November 10th
  • Cape Light Compact increases business incentives through November 30th
  • CDP Business Assistance staff is here to help. - Make your appointment online NOW.
  • WE CAN/CDP free individual business legal consults

As always, if there is a business topic that comes up for which you need more information or assistance, please email or call. CDP staff will help find resources to answer your questions.

Stay well and safe under the full moon!

MGCC has $50.8 Million in grants available to support Massachusetts small businesses

The Commonwealth of Massachusetts has made $50.8 million in grants available to support small businesses, microenterprises, and their employees, families and communities. Massachusetts Growth Capital Corporation (MGCC) will be administering these funds for businesses experiencing economic hardship and a loss of income due to the COVID-19 pandemic.

Grant funding is intended to help businesses adversely impacted by the pandemic. Preference will be given to small businesses whose owners are women, minorities, veterans, members of other underrepresented groups, those who are focused on serving the Gateway Cities of Massachusetts, and those most negatively impacted by the COVID-19 pandemic. Preference will also be given to applicants that have not been able to receive aid from other federal programs related to COVID-19.

Timeline: Application will be open for 3 weeks
10/22/2020 at 12:00 PM – Application opens.
11/12/2020 at 12:00 PM – Application closes.

This program is NOT first come first serve. Please submit your full application prior to 11/12/2020! Applications are only accepted electronically through the application portal.

Please contact Pam if you need assistance with your application. Application

COVID-19 MicroEnterprise Forgivable Loan Program

The CDP is offering a forgivable loan program for small businesses in the 8 Lower and Outer Cape towns funded by a CDBG grant to the Town of Truro. This Micro-enterprise Relief Program (MRP) is designed to assist businesses with 5 or fewer employees (including the owner(s)) that have been negatively impacted by the COVID-19 pandemic. The program will provide one-time forgivable loans up to $10,000 for business owners who need financial assistance to support business operational costs in order to keep the business sustainable. Funds must be used within six months of award. Applications will be accepted on a rolling basis. Funding will be awarded based on a first come, first eligible, completed application basis, subject to the availability of funding.

Eligibility Criteria Include:
  • Business must have 5 or fewer employees including owner(s) at time of application.
  • Business owner(s) must meet the Low to Moderate Income criteria (check out the pre-application, you might be surprised at the income requirements)
  • Business must have started their for-profit operations prior to 1/1/2019
  • Must demonstrate a COVID related loss

To help you stay informed, we have developed a pre-application for businesses that are interested in this program. We will email the full application to anyone who has filled out a pre-application, and advertise the program across the region. We anticipate that full application to be ready within a week.

What should you do now?
  1. If you have not already, fill out the pre-application. If you have already submitted a pre-application, you will receive a separate email to let you know what documents to prepare.
  2. Get your documents ready! What do you need?
  • 2019 Business & Personal Tax returns (if you are on extension, your 2018 returns are acceptable)
  • Get your income and expenses put together for 2020 by month, if you can. These are needed to demonstrate your COVID-19 losses.

If you need help getting these documents put together, please ask for help. Who can help? Bookkeeper, accountant, family member, friend, CDP Staff.

Call Pam (508)240-7873 x18 or email today if we can help you get prepared.
Cape Light Compact
Cape Light Compact recognizes these are challenging times for businesses and have increased incentives on high-efficiency equipment in order to help reduce your overhead costs.

Up to 100% incentives available on recommended improvements that are identified through a no-cost Business Energy Assessment from the Compact’s qualified vendor. Improvements could include, lighting, refrigeration, water-saving devices and more. You may sign up online or give the Compact a call at 1-800-797-6699 by November 30th to be eligible for these enhanced incentives.

Increased incentives for select high-efficient commercial kitchen equipment through November 30th. Incentives are available through participating foodservice dealers and are applied at the point of purchase, so there are no application forms to fill out! Some of the equipment includes refrigerators and freezers, ovens, fryers, dishwashers, and more. Find a participating dealer here.

Increased incentives available on commercial lighting if you wish to use your own contractor. These incentives are available from participating electrical distributors.  Find a list of participating distributors here.

More information on all of these offers, including lists with incentives, participating distributors and requirements can be found Cape Light Compact.
You may also call the Compact at 1-800-797-6699.
The CDP is now offering Office Hours and QuickBooks help using remote tools.

What can we do?
Help you get your record keeping up to date.
Update your business plan
Help you fill out a disaster relief loan application.
Answer questions and provide resources.
Select a link below to make an appointment.

Upcoming Workshops

Click button below for details about our fall programming.

QuickBooks Online - Nov 10, 17 & Dec 5
Digital Pivot - Nov 5
Cape & Islands Green - November 12

The CDP has micro loans up to $50,000 for small businesses on the Lower Cape. Visit our website for complete program details and eligibility requirements.

We are able to lend to businesses that have a limited credit history, are too new to obtain a bank loan or that need help developing a business plan or cash flow projections. We even work with local banks offering loan packaging to potential applicants.
The CDP offers Individual Business Guidance in a number of ways.
How can we help your business?
Individual Business Guidance

Are you self-employed, a solopreneur or a small business owner, and live or work on the Lower Cape?

The CDP offers individual business guidance for all types of businesses.

What are your business needs?

Professional Services Grants Still Available for 2020.

Many businesses are finding the need to change their business model in these turbulent times. The CDP has Grant Funds available to help business owners hire specialized consultants to quickly implement these changes whether in technology, legal or marketing.
Make an appointment to learn more and to help stabilize or grow your business.

Individual Mentoring through SCORE

SCORE offers individual mentoring across the Cape. The CDP partners with SCORE to offer mentoring on the Lower Cape. Due to COVID19 all SCORE Mentoring Session are currently being help remotely. Please register with SCORE using the link below.
The CDP's small business and technical assistance programs are made possible by the following funders:
Mass Growth Capital Corporation
USDA Rural Business Development Grant
Barnstable County Economic Development Commission
Cape Cod Foundation
Cape Cod Five Charitable Foundation Trust
Rockland Trust
TD Charitable Foundation
Santander Bank

This institution is an equal opportunity provider and employer.