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Application Deadline for the CDBG-CV Microenterprise Assistance Grant Program
October 23 @ 8:00 am - 5:00 pm
CDBG-CV Microenterprise Assistance Grant Program – Application Deadline October 23, 2020
Funding Opportunities for businesses in certain municipalities including Beverly, Essex, and Manchester by the Sea.
The Mass. Growth Capital Corp. has announced Round 2 of the CDBG-CV Microenterprise Assistance Grant Program. Round 2 will be open for applications from October 2, 2020, until October 23rd, 2020 thru 5 PM. Changes have been made to the grant application to allow businesses to use their 2020 household income. Round 1 applications are being verified and do not need to apply again in Round 2.
A total of $280,500 is available to microenterprise businesses located in Beverly, adversely impacted by COVID-19, through the Community Development Block Grant COVID-19 (CDBG-CV) program funded by the CARES Act of 2020. The City of Beverly has established a web page to provide updates on the program as they become available.
The funding is being utilized to address emergency needs in light of the Coronavirus pandemic. The maximum award per microenterprise is $10,000. A microenterprise is defined as a commercial enterprise that has 5 or fewer employees (regardless of whether they are part or full time), including 1 or more of whom owns the enterprise. Businesses must be for-profit. Funds may be used for working capital to cover business costs, such as rent, staffing, utilities, and personal protection equipment (PPE) as well as technical assistance, general support, and stabilization of the business. Microenterprise Assistance grant funds may not be used for major equipment purchases, purchase of real property, construction activities, business expansion, or lobbying.
As you know Massachusetts Growth Capital Corporation (MGCC) is the Program Administrator and all applications must be submitted to MGCC. Applications are available here (https://massgcc.submittable.com/submit) Businesses interested in applying must complete and submit the application electronically through MGCC’s online application portal. Hard copies or electronic copies submitted in any other way, such as mailed in or emailed, will not be considered.
For additional information including criteria please click here.
Beverly Businesses that have questions can contact Denise Deschamps, Economic Development Planner, Planning Department. Office phone: 978-605-2356. Email: email@example.com