Reading, MA – Businesses, take notice! Small business grants are once again available to qualifying businesses adversely impacted by COVID.
The Commonwealth announced a new relief program directing $50 million to businesses that focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups, underserved markets, and those that are owned by minorities, women, veterans, disabled individuals, or people that identify as part of the LGBTQ+ community. This program also will direct $25 million for businesses that have not previously received financial relief from MGCC’s COVID-19 Relief Grant Programs.
“These grants offer an excellent opportunity for small business owners in our community who really felt the impact of the pandemic,” said Town Manager, Fidel Maltez. “Every bit helps.”
Eligible businesses can receive between $10,000-$75,000 in grant funds, with individual grant caps equivalent to 3 months of annualized operating expenses as evidenced by 2020 Federal Tax Returns. Funds can be utilized for employee payrolls, business mortgage or rent, utilities, and other business operating costs.
To review eligibility requirements, eligible uses, and to apply, please visit: https://www.empoweringsmallbusiness.org/
Program overview translations are available in Arabic, Guajarati, Haitian Creole, Khmer, Korean, Portuguese, Simplified Chinese, Spanish, Traditional Chinese, and Vietnamese.
Are you a Reading-based business? For additional questions or assistance, please contact Erin Schaeffer, Economic Development Director, Town of Reading at firstname.lastname@example.org.
This program was established by the Legislature, funded through federal ARPA money and will be administered by the Massachusetts Growth Capital Corporation (MGCC).