State Awards Another $78.5 Million to 1,595 Businesses Impacted by Pandemic
BOSTON — The Baker-Polito administration announced $78.5 million in awards to 1,595 additional small businesses in the third round of grants through the COVID-19 Small Business Grant Program administered by the Massachusetts Growth Capital Corp. (MGCC).
To date, the administration has awarded close to $195 million in direct financial support to 4,119 small businesses out of a $668 million fund set up to support small businesses across the Commonwealth. Additional grants will be announced in the coming weeks for thousands of additional businesses.
“Our administration set up a $668 million grant program to support small businesses statewide that are struggling from COVID-19 impacts,” Gov. Charlie Baker said. “Today, we are awarding our third round of grants, for a total of $195 million in direct financial support for over 4,000 small businesses, with more yet to come. Supporting small businesses is vital to our economic recovery, and we’ll continue to expedite this grant process to send out funds to provide some much-needed financial relief.”
Added MGCC President and CEO Larry Andrews, “at our core, MGCC has the responsibility to create economic opportunities and provide support for small businesses, and the pandemic has given our mission an enhanced importance. As we transition from targeting small businesses to specific economic sectors affected by COVID-19, I want to express my gratitude to all of the partner organizations who helped raise awareness among the businesses with the greatest need and those serving communities that have traditionally been at a disadvantage.”
Representing key industries that have been especially impacted during the pandemic, restaurants and bars, personal care, retail, and healthcare businesses received the highest number of individual grants this round. Other grant recipients include women-owned businesses, businesses in gateway cities, businesses in underserved markets, and businesses that have previously received no other forms of financial assistance.