"Today (3/16/20), the Baker-Polito Administration announced economic support for small businesses with a $10 million loan fund to provide financial relief to those that have been affected by COVID-19.Continue reading the article
The $10 million Small Business Recovery Loan Fund will provide emergency capital up to $75,000 to Massachusetts-based businesses impacted by COVID-19 with under 50 full- and part-time employees, including nonprofits. Loans are immediately available to eligible businesses with no payments due for the first 6 months. Massachusetts Growth Capital Corporation (MGCC) has capitalized the fund and will administer it.
“As our administration continues to take steps to protect the health and safety of residents, we recognize the hardships facing the small businesses that create the foundation of the state’s economy,” said Governor Charlie Baker. “This recovery loan fund is a new resource to help small businesses address emergency needs due to the disruption caused by the ongoing COVID-19 pandemic.”
https://www.mass.gov/news/baker-polito-administration-announces-10-million-small-business-recovery-loan-fund
How to Apply:
- Please complete the application found on MGCC’s website, EmpoweringSmallBusiness.org.
- Completed applications can be sent via email to mgcc@massgcc.com with the subject line “2020 Small Business Recovery Loan Fund”.
- MGCC can be reached by email: mgcc@massgcc.com
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| Baker-Polito Administration announced economic support for small businesses |
Announcement video link => https://youtu.be/FfzIhhGQKrI
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