Creating opportunities for people to live, work, & thrive on the Lower Cape
Tools to Help Small Business
Information is key when making decisions in business. It is the same during a pandemic when looking to the state and federal government for assistance to small businesses.

  • State Offers $50.8 million in small business grants through Mass Growth Capital Corporation.
  • Digital Pivot Workshops Start October 22nd
  • SBA & Treasury release simple PPP forgiveness form
  • CDP is accepting applications for the CDBG CV-19 Forgivable Loan Program
  • Net Zero Conference - October 23rd

Thanks
Pam

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.

Treasury Department Releases Simpler PPP Forgiveness Application.

The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020. SBA will continue to process all PPP forgiveness applications in an expeditious manner.

View the simpler loan forgiveness application.
See instructions for completing the simpler loan forgiveness application.
Read the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
COVID-19 Micro Enterprise Forgivable Loan Program

Applications are now available for the CDP forgivable loan program for small businesses in the 8 Lower and Outer Cape towns. 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


There are two methods for submission, electronic and paper.

If you wish to use the electronic version:
  • Here is the link to a google form Electronic Questions
  • The google form asks how you would like to submit your attachments which can be done via paper or with an upload. An upload link will be provided when Google Form has been received.
  • The required attachments are included Electronic Application Description and Attachments.
  • Submit attachments through the method you choose.
  • Your application will be stamped with the date and time received. However, if the uploads are not submitted in one complete package and other items are submitted at a later date, that will be the date and time of COMPLETE Application.

If you wish to use a paper version:
  • A full paper application with a list attachments.
  • Fill out the application and return to the CDP at 3 Main Street Mercantile, Eastham, MA 02642. To ensure contactless delivery of documents please leave your application package in the CDP mailbox which is between units 7 & 8. Then call Alex at 508-240-7873 x22 to let him know that the application had been dropped off.
  • Alex will then be able to stamp the application with the time and date received. However, if the application is not submitted in one complete package and other items are submitted at a later date, that will be the date and time of COMPLETE Application.

If you need a pre-printed paper version: A paper version of the application is available at the CDP Offices in the “drop” box which is located below the CDP mailbox between units 7 & 8 at 3 Main Street Mercantile, Eastham. There will be multiple copies in the yellow file folder, please take only what you need so that there are copies for others that may also be in need of this version of the application.

If you have questions or need assistance with any part of the application please contact Pam pam@capecdp.org or 508-514-1369 mobile or schedule an appointment using the links below.
Community Development Partnership | www.capecdp.org | Eastham, MA 02642
This institution is an equal opportunity provider and employer.