The Northampton Arts Council is an organization whose goal is to support and promote the arts in Northampton. Originally created as a Local Arts Lottery Council, it began its work by administering a grants program in which proceeds from a state lottery are distributed to local artists, arts groups, and public schools.

Thursday, November 5, 2020

MGCC offers COVID-19 Grants for Massachusetts Small Businesses



WHAT: COVID-19 Grants for Massachusetts Small Businesses 
WHEN: 10/22/2020 at 12:00 PM – Application opens
              11/12/2020 at 12:00 PM – Application closes

Application:
APPLY TO SMALL BUSINESS GRANTS FOR 5 OR FEWER EMPLOYEES
APPLY TO SMALL BUSINESS GRANTS FOR 50 OR FEWER EMPLOYEES

For More Information Visit:
www.empoweringsmallbusiness.org/covid-19-response/covid-19-grants-massachusetts-small-businesses

Grants Overview:
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 to businesses experiencing economic hardship and a loss of income due to the COVID-19 pandemic.

These funds were appropriated through the Commonwealth’s Supplemental Budget for Fiscal Year 2021 (FY21) as well as the CARES Act of 2020 and are divided into two programs.

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, 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.

Applicant Eligibility:
Each program encompasses its own eligibility criteria, set forth below. Applicants must review the information to determine which program to proceed with applying.

Program Details:

SMALL BUSINESS GRANTS FOR 5 OR FEWER EMPLOYEES

AMOUNT OF FUNDING:
Up to $25,000

APPROVED USE OF FUNDS:
Funds may be used for working capital to cover business costs, such as rent, staffing, utilities, and technical assistance, general support and stabilization of the business. Funds may also be used for purchasing personal protection equipment (PPE).

NON-APPROVED USE OF FUNDS:
Major equipment purchases, purchase of real property, construction activities, business expansion, lobbying. Also, grantees must prevent the duplication of benefits, which means these grant funds may not be used to pay expenses if another source of financial aid has paid that same expense.

If a person owns multiple businesses and submits an application for each business, MGCC may reserve the right to limit proceeds to one business per owner.


SMALL BUSINESS GRANTS FOR 50 OR FEWER EMPLOYEES

AMOUNT OF FUNDING:
Businesses can receive up to $75,000 but capped at up to 3 months of operating expenses, as evidenced by 2019 Federal Tax Returns. Grant amounts will be considered for actual expenses for 2020 during the pandemic. Expenses can be considered since March 10, 2020, given that it does not exceed 3 months of operating expenses evidenced by 2019 Federal Tax Returns.

APPROVED USE OF FUNDS:
Employee payroll and benefit costs, mortgage interest, rent, utilities and interest on other debt obligations.

NON-APPROVED USE OF FUNDS:
Major equipment purchases, purchase of real property, construction activities, business expansion, lobbying. Also, grantees must prevent the duplication of benefits, which means these grant funds may not be used to pay expenses if another source of financial aid has paid that same expense.

If a person owns multiple businesses and submits an application for each business, MGCC may reserve the right to limit proceeds to one business per owner.

FOR MORE INFORMATION VISIT: 
www.empoweringsmallbusiness.org/covid-19-response/covid-19-grants-massachusetts-small-businesses

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