Small Business Development

The application portal is now closed. Keep an eye on your email for correspondence from Massachusetts Growth Capital Corporation (MGCC). This may contain requests for additional information or notice of award, or both.

The MA Small Biz Reopening Guide is a website that helps small business owners in Massachusetts figure out:

• how to reopen their business following the COVID-19 pandemic, and

• temporary relief implemented by the Commonwealth of Massachusetts.

The site is focused on assisting micro businesses, especially those located in low-to-moderate income areas or otherwise underserved communities. These include businesses that are owned by people of color, immigrants, and women.

The purpose of this new fund is the alleviation of sudden and severe economic dislocation caused by COVID-19. The fund provides permanent resources to support economic resiliency and to further the City of Boston ‘s objectives for long-term economic recovery. BLDC staff have compiled a list that includes many needs that can be addressed through small business loan assistance. These needs generally fall under two categories: renovating and activating Boston small businesses.
 
Renovate recognizes the need for new practices and physical improvements small business will have to complete to safely open.

To comply with city requirements, businesses must provide:

• a safe environment that embraces best practices in social distancing, and

• protection for both customers and employees.

Businesses will need physical barriers including plexiglass and other solutions that will help comply with social distancing requirements, including:

• reconfigured aisles

• alternatives to current seating arrangements, and

• improved HVAC systems. 

  If a business’s existing HVAC system is not compliant, there may be a need to install a completely new system. 

The funding for this new program will allow the BLDC to target financing these types of improvements.

Activate encompasses a variety of other financing needs for new and existing businesses. Some examples of activate are:

• Substitute for the lack of, or reduced, bank financing to activate new business projects currently in the pipeline.

• Assist with funding improvements to a small business’s social media presence to activate sales.

• Provide working capital to assist businesses as they hire or rehire staff and to fund restocking inventory needed to activate sales.

• Pandemic Unemployment Assistance (PUA) – State of Massachusetts

• PUA provides up to 39 weeks of unemployment benefits to individuals who are unable to work because of a COVID-19-related reason but are not eligible for regular or extended unemployment benefits. These individuals include:

• the self-employed

• independent contractors

• workers with limited work history, and

• others.

• Please note: You should apply for PUA retroactive to your first week of total or partial unemployment. Most regular claims are processed within 21-28 days after filing. Many are processed within the first week of filing. Learn more and apply on the state’s website.