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Governor Charlie Baker Stretches $75M Grant Program for Small Business

Governor Charlie Baker Stretches $75M Grant Program for Small Business
Small Business Loans
  • Post category:News

Governor Charlie Baker’s administration has put together a $668 million small grant program for small businesses in late 2020. On Monday, Baker traveled to a local city in Boston to relaunching a small grant program for small businesses that were impacting by the COVID-19 pandemic.

Governor Charlie Baker and Small Business Relief Fund

The American Rescue Plan Act is funding the program. It was based on last year’s state budget surplus. Also is the successor to a $668 million small business relief fund which was set up by Baker. It was in late 2020. It does also rely heavily on federal funds.

There are $50 million in grants which is the ARPA-surplus bill. It is available to small businesses that are impacting by COVID-19. The priority is, in fact, given to businesses that really serve socially and economically disadvantaged communities. Also for those owned and operated by minorities, women, veterans, and those with disabilities.

“In fact, this program has proven to be a lifesaver and game-changer for a lot of businesses here in the commonwealth,” Baker said.

Also, the other $25 million in grants are reserving for businesses that did not previously qualify for relief funding. It was under the initial program. Moreover, the application period did open at noon on Wednesday, and businesses will have five weeks to apply for grants of up to $75,000. They can be using for everything from payroll, mortgages, and rent to COVID-19 safety supplies or outdoor dining upgrades.

Also, Massachusetts Growth Capital Corporation President Larry Andrews, who does will administer the grants, did say his goal is was to start awarding money by the end of April or early May.

“To the small business owners who, in fact, may be watching this right now, your resiliency and optimism are contagious and plus really inspiring. In fact, we do thank you and then want to support you further,” Andrews said.

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