Massachusetts
Baker-Polito Administration Announces $668 Million Small Business Relief Package
The MRA has long been advocating for direct, targeted relief for the restaurant industry from the state. Survival and recovery are going to be the direct coordination of funding and resources from Federal, State and local governments.
Today, the Baker-Polito Administration launched a $668 million program to provide financial assistance to Massachusetts small businesses impacted by the COVID-19 pandemic and will start releasing millions in new funding to restaurants, retailers, and other small businesses throughout the Commonwealth as soon as next week.
The Small Business Grant Program was established in the fall, and currently has a pool of eligible applicants awaiting funding. This additional funding will allow the Administration to award more of those pending applicants.
Eligible businesses that already applied to the program, but were not funded due to limited funds available, will be prioritized for funding first and do not need to reapply.
The funds will also be used to stand up an additional grant program at MGCC. This program will target the industries most hard-hit during the pandemic.
Eligible industries for the new program include:
- Restaurants, bars, caterers
- Indoor recreation and entertainment establishments
- Event-support professionals (photographers, videographers, etc.)
The new business relief program would offer grants up to $75,000, but not more than three months’ operating expenses, to be used for employee wage and benefits costs, space-related costs, and debt service obligations.
The online application portal for the new program will open on Thursday, December 31, and will close on Friday, January 15. Awards are expected to be announced in early February.
More details on how to apply and eligibility requirements are available at www.empoweringsmallbusiness.org. Information on this website will be available on Monday, December 28.
