Nearly 1,400 small businesses in Massachusetts are slated to receive more than $60 million as part of the second round of grants from a state program that aims to assist companies hit hard by the coronavirus pandemic, officials announced Thursday.
Through the COVID-19 Small Business Grant Program, the Massachusetts Growth Capital Corporation (MGCC) has awarded 1,366 small businesses $67.4 in awards, according to a statement from Gov. Charlie Baker’s office.
The announcement comes a week after the governor announced the first round of payments from the grant program: nearly $49 million to 1,158 small businesses.
The governor’s office also announced Thursday it will start accepting applications from businesses that have been most impacted by COVID-19 for aid from the new Sector-Specific Small Business Relief Grant Program, which is also run by the MGCC.
Both the small business and sector-specific programs are part of a $668 million relief package the state unveiled last week. The fund seeks to help restaurants, retailers and other businesses hurt by the ongoing public health crisis.
“The commonwealth will begin awarding millions of dollars in new funding to restaurants, retailers and other small businesses as soon as next week,” Baker said after introducing the relief package on Dec. 23.
Roughly half of the small businesses that were notified of their successful grant applications Thursday are owned by minorities, and 48% are owned by women, the governor’s office noted in its statement.
The top sectors receiving relief from the second round of grants include restaurants and bars, beauty and personal services, health care and retail, according to the statement.
The MGCC is continuing to review existing applications for the small business grant program and will announce additional awards in the coming weeks to companies, the statement said.
Targeting industries experiencing the most economic hardship from the pandemic, the state’s sector-specific program is expected to offer grants of up to $75,000, but no more than three months of operating expenses. The funds may be used for payroll and employee benefit costs, mortgage interest, rent, utilities and interest on other debts, according to the commonwealth.
The online application portal for the program opened Thursday and will close Friday, Jan. 15. Awards are expected to be announced in February, the governor’s office said.
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https://www.masslive.com/business/2020/12/1366-small-businesses-in-massachusetts-hit-hard-by-the-pandemic-to-get-674-million-from-state-covid-grant-program.html
1,366 small businesses in Massachusetts hit hard by the pandemic to get $67.4 million from state COVID grant - MassLive.com
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