Commonwealth to Receive Small Business Relief Package

Boston – Representative David Linsky (D-Natick) announced last week a $668 million business relief package to be administered by Massachusetts Growth Capital Corporation (MGCC). The business relief package consists of two programs: (1) a recapitalization of the existing small business relief program, which originally launched in October; and (2) additional funding for businesses that fall into specific industry sectors.

“The COVID-19 pandemic has unfortunately taken a devastating toll on small businesses across the country. This business relief package will help to reduce the economic hardships small businesses in the commonwealth have suffered over the past year” said Representative Linsky. “I want to thank the MGCC for administrating this relief package that will help businesses across Massachusetts bridge the gap to a post COVID world.”

Details outlining the two programs is as follows:

(Existing) Small Business Grant Program Details

MGCC is reviewing existing applications from the first small business relief program. Please note, businesses that already applied to MGCC’s first small business relief program from October do not need to reapply to the new program. All applications in the existing program are currently being reviewed.

Businesses that have already submitted complete and accurate applications to this first program and either (a) meet the demographic priorities from the first program or (b) meet the sector-specific priorities from the new program will receive funding. As a reminder, included below is additional background on those priorities:

• Demographic priorities: Minority-owned, women-owned, veteran-owned, LGBTQ+-owned, businesses owned by persons with disabilities, or businesses located in Gateway Cities

• Sector priorities: Restaurants/Bars, Independent Retailers, Indoor Recreation and Entertainment, Personal Services, Event Support Companies

Businesses that have already applied to MGCC through the first program will be notified of their award status by January 18th.

(NEW) Sector-Specific Relief Program Details

A program overview for the new sector-specific program is now online and can be found here. The program overview webpage includes key details and information relative to the program parameters and preferences.

The application period for the new program will run from Thursday, December 31st through Friday, January 15th. Businesses that have not already applied to MGCC and choose to apply in the new program will be notified of their award status in February.

Please contact Connor Green (Connor.Green@mahouse.gov) with any questions or concerns.