BOSTON (WHDH) - The Baker-Polito Administration on Monday announced that nearly $49 million in grants to small businesses will be awarded through the COVID-19 Small Business Grant Program administered by the Massachusetts Growth Capital Corp.
In October, the $50.8 million grant program was announced as a key component of Partnerships for Recovery, the Administration’s comprehensive plan to get people back to work, support small businesses, foster innovation, revitalize downtowns, and ensure housing stability.
Of the businesses being notified of their successful applications, each meets the preferred criteria of being owned by women, minorities, veterans, individuals with disabilities, or that identify as LGBTQ.
“As the pandemic continues to create challenges across the Commonwealth, our administration is pleased to partner with Mass Growth Capital Corporation to award almost $50 million to small business owners disproportionately impacted by COVID-19,” Gov. Charlie Baker announced in a statement. “We are thankful to our state, local and federal partners for their collaboration to equitably distribute these funds, and remain committed to working together to deliver additional relief to the families and businesses of Massachusetts.”
To increase applications from underrepresented groups, MGCC worked with a statewide network of local non-profits, small business technical assistance providers, and other organizations that support minority enterprises, including BECMA, Amplify LatinX, the Business Equity Initiative, Massachusetts Association of CDCs, LISC and the statewide Coalition for an Equitable Economy.
The Small Business Grant Program received more than 10,000 applications seeking funds totaling over $500 million. Effective today, successful applicants will be notified that they have been awarded grants with further instructions on how to complete the process to receive funds.
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