Does your small business have an exceptional need for cash relief due to COVID circumstances? The Commonwealth of Massachusetts has made an additional $668 million available to support businesses through new and existing programs. But the deadline to apply for the Relief Fund is Friday, Jan. 15, 2021 (at 11:59 pm).
Which Small Businesses Are Eligible for the Relief Fund?
To be eligible for the funding, your business must:
- Have a physical establishment in Massachusetts and be based in Massachusetts,
- Be a for-profit entity (sole proprietorship, partnership, corporation, cooperative, or LLC);
- Be able to document a loss of income equal to or greater than requested assistance due to COVID-19 pandemic;
- Be currently in operation or if not in operation must have an intent to reopen;
- Have been established prior to 06/30/2019; and
- Be in good standing with the state and city/town:
- Business must be current on all taxes due through 3/1/2020; and
- Have active and valid state licenses/registrations, if applicable.
If you applied for the first round of this grant through Massachusetts Growth Capital Corporation (MGCC) due November 2020, you do not need to apply again.
If you didn’t apply in the first round of this grant for the small business Relief Fund, you might qualify for this new Sector-Specific Relief Grant. But time is short. Check out the website for full details.