BOSTON (WWLP) – Two new grant programs are now available for Massachusetts small businesses.
Massachusetts Growth Capital Corporation (MGCC) announced a total of $78-million in funding, that they will oversee. The money was appropriated through the state’s FY2023 Economic Development Bill.
The Inclusive Recovery Grant Program will provide up to $75 million in funding through grants of up to $75,000 for businesses owned by people of color, women, veterans, immigrants, individuals with disabilities, or those who identify as part of the LGBTQ+ community; businesses that focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups; and other underserved markets.
The Independent Movie Theater Grant Program will provide a total of $3 million in funding to support movie theaters in Massachusetts. Eligible applicants can receive $15,000 for each of the first two screens they add at a particular location and $10,000 for each additional screen at a particular location.
Our small business owners and entrepreneurs, many of whom are women, people of color, veterans, and immigrants, need access to capital in order to get their ventures off the ground and expand their footprint in Massachusetts,” said Massachusetts Economic Development Secretary Yvonne Hao. “We are grateful to MGCC for playing an important role in empowering small business owners and advancing equitable business growth across the state.”
“These programs provide an accessible and streamlined process for underserved businesses to access the capital that will be instrumental to their growth,” said Larry Andrews, President and CEO of MGCC. “Our extensive network of community partners is actively reaching out to their local businesses to provide the necessary technical assistance to assist through the application process.”
Applications for both programs are being accepted now and the deadline is Friday, April 28, 2023. Find the application and information on the grant programs at the MGCC website.
