The Commonwealth of Massachusetts has made an additional $668 million available to support businesses through new and existing programs. Massachusetts Growth Capital Corporation (MGCC) will target a portion of these funds to sectors experiencing the most significant economic hardship and a loss of revenue due to the COVID-19 pandemic.

Businesses Should NOT Apply if they:

  • are not showing an operating loss due to the coronavirus pandemic
  • have access to other sources of relief
  • have been able to continue to operate without significant financial distress
  • have adequate available reserves
  • a large company better positioned to endure this economic downturn and COVID-related restrictions

Who Should Apply:

  • Restaurants, bars, caterers, and food trucks that collect and remit meals tax
  • Indoor Recreation or Entertainment Establishments (e.g. movie theaters, comedy clubs, performing arts venues/organizations, arcades, bowling centers, pool/billiard halls, escape-the-rooms, trampoline parks, roller-skating rinks)
  • Indoor spectator sports venues
  • Other indoor recreation or entertainment venues
  • Gyms or Fitness Centers
  • Athletic clubs, exercise centers, health clubs
  • Sports facilities (e.g. tennis clubs, racquetball clubs, hockey rinks, swimming facilities)
  • Fitness instruction centers (e.g. aerobics, dance, yoga, karate, etc.)
  • Personal Services
  • Nail salons, barber shops, etc.
  • Independent pharmacies 
  • Event Support Companies - primary source (more than 50%) of revenue is event-related
  • Photography studios, videography studios, florists, limo services, event planning companies, event rentals, performers, convention and trade show organizations
  • Independent Retailers
  • Businesses with brick and mortar locations that collect and remit sales tax

This business relief fund targets the hardest hit small businesses that have an exceptional need of cash relief. Though many businesses have been negatively affected by the pandemic, not all needs are equal. An excessive number of applications submitted by businesses with lesser need will delay the awarding of grants to businesses facing extraordinary circumstances. An application review for a company without a truly exceptional need delays assistance for a business at risk of permanent closure.

Businesses are encouraged to review the program’s eligibility criteria before beginning the application process to determine if they are eligible to apply for the grant.

Application Submission Instructions:

Your application must be filled out and submitted along with attachments as stated in “Required Documentation” electronically through MGCC’s online application portal
 
Please be advised, applications must include all required documentation by the program deadline in order to be considered. Please see full list of “Required Documentation” details below. Common omissions that would exclude your application from consideration:

  • Certificate of Good Standing from the Massachusetts Secretary of State’s office (required prior to funding)
  • Complete 2019 Federal Business Tax Return
  • Complete 2019 Federal Personal Tax Returns for each business owner with 20% or greater ownership

Award Process:

After the application period closes, Massachusetts Growth Capital Corporation (MGCC) will review all applications to determine eligibility. MGCC will award and disburse grants based upon eligibility criteria and preference prioritization.
 

Visit Mass Growth Capital Corporation's website for more information.

SBA Update: Shuttered Venue Operators Grant portal will open April 8, 2021

[April 1, 2021]  The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.

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SBA Update: Additional Debt Relief Assistance Approved through Economic Aid Act

[February 3, 2021]  Under the Economic Aid Act dated December 27, 2020, the U.S. Small Business Administration, has been authorized to provide additional assistance in the form of debt relief payments to eligible 7(a), 504, and Microloan borrowers. Business owners with eligible SBA loans approved on or before September 27, 2020 have been sent letters outlining their eligibility for additional assistance. 

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SBA Unveils Shuttered Venue Operators Grant

[February 2, 2021]  The Shuttered Venue Operators (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act and signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.

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Massachusetts Equitable PPP Access Initiative

[January 27, 2021]  The Massachusetts Equitable PPP Access Initiative (MEPPPAI) is a coalition formed to provide timely and equitable access to forgivable federal loans from the U.S. Small Business Administration under the Paycheck Protect Program (PPP) for underbanked businesses and historically disadvantaged and underserved demographic groups, including businesses owned by women and people of color.  The coalition includes community development financial institutions, banks, business support organizations, foundations, and other supporting partners.

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SBA Re-Opening Paycheck Protection Program

[January 14, 2021]  The program will open to lenders with $1 Billion or less in assets on Friday, January 15, all other lenders will be granted access to the program on Tuesday, January 19.  Business owners should reach out to their local banks and credit unions to take advantage of this program as soon as possible. 

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SBA Announces Interactive Digital Platform for Women-Owned Businesses

[January 13, 2021]  SBA has announced Ascent, an interactive digital platform packed with resources women business owners need to set, and achieve, their business goals. Ascent is designed for the “missing middle” — growth-oriented women entrepreneurs who are beyond the start-up phase and already generating revenue yet looking to grow and scale. Most learning resources for business owners focus on either start-ups or mature businesses. Ascent is here to change that!

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Sector-Specific Relief Grant Program for Massachusetts Businesses Deadline Notice

[January, 2021]  Applications must be submitted by Friday, January 15th! The Commonwealth of Massachusetts has made an additional $668 million available to support businesses through new and existing programs. Massachusetts Growth Capital Corporation (MGCC) will target a portion of these funds to sectors experiencing the most significant economic hardship and a loss of revenue due to the COVID-19 pandemic.

Read more ...

Baker-Polito Administration Announces $668 Million Small Business Relief Package

[December 29, 2020]  Last week, the Baker-Polito Administration launched a $668 million program to provide financial assistance to Massachusetts small businesses impacted by the COVID-19 pandemic. The program in part relies on the pending federal COVID-19 relief bill recently passed by Congress. 

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SEED Corporation Names Winners for 2020 

[December 10, 2020] Jordi Labs, LLC of Mansfield, MA has been selected as this year’s Small Business of the Year. David Emmons of Rockland Trust is this year's Banker of the Year recipient. And Pasquale "Pat" Ciaramella is the 2020 recipient of the Regional Business Advocate of the Year.

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It's Veteran's Small Business Week!

[November 2, 2020] In observance of the U.S. Small Business Administration’s celebration of National Veteran's Small Business Week, SEED is partnering with the SBA to participate on a virtual financing panel for the veteran- and military-owned small business community.  The workshops will provide information on the resources available to help these entrepreneurs start or grow their business.  Follow the link below for the financing panel or visit https://www.sba.gov/national-veterans-small-business-week  for more information on other virtual workshops available near you!

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Virtual Workforce Training Fund Free Information Session 

[October 24, 2020] The Massachusetts Workforce Training Fund Program (WTFP) will be holding a virtual informational session with the Commonwealth Corporation to educate and engage with Massachusetts business owners looking to take advantage of the WTFP.

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Baker-Polito Administration Announces Partnerships for Recovery with $774 Million Economic Recovery Plan

[October 23, 2020] This week, the Baker-Polito Administration announced a $774 million comprehensive plan to stabilize and grow the Massachusetts economy. The plan focuses on getting people back to work, supporting small businesses, fostering innovation, revitalizing downtowns and ensuring housing stability. Partnerships for Recovery begins today by directing $115 million in new funding to small businesses and Main Streets hardest hit by the COVID-19 pandemic and for workforce training efforts. Additionally, the Administration is aligning multiple funding sources, both existing and proposed, to appropriately respond to the crisis.

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MicroBusiness Grants Available in Foxboro, Medfield and Walpole 

[October 6, 2020] The Towns of Foxboro, Medfield, and Walpole have created a microenterprise grant up to $10,000 for businesses located in their communities. Applications are now being accepted!

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Angela Laperriere Named 2020 Rhode Island & New England Financial Services Champion

[October 5, 2020] Without capital, a small business’ journey ends before it even begins. Making sure that journey has a chance to flourish is what Angela Laperriere has been doing since 2011. Angela, better known as Angie, began her career with South Eastern Economic Development Corporation (SEED) as a marketing intern in 2010 prior to finishing her senior year at the University of Tampa.  After graduating in 2011, she was hired full-time as the marketing and business development officer. The position engrossed her in SEED’s lending program which paid dividends when she became involved with the lending side in 2012.

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SCORE RI's Annual Women's Small Business Summit

[October 5, 2020] We’re excited to announce the return of the Women’s Small Business Summit, hosted by SCORE RI. This year’s event has gone virtual—and it’s packed with inspiration, insights, and resources for current and aspiring female small business owners. Open this article for a full list of events and registration information!

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SEED Client Evans Machine Co. Named Family-Owned Business of the Year 

[September 17, 2020] The Small Business Administration (SBA) has named Evans Machine Co. the 2020 Jeffrey Butland Family Owned Business of the Year for Massachusetts and New England. Evans Machine Co. earned the recognition for contributions to the manufacturing industry and leadership in community service. Based in Brockton, Evans Machine Co. is a precision manufacturing facility involved in product development for several industries, including medical, health, defense, and automotive.

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Laurie Driscoll of South Eastern Economic Development Corporation Named Financial Services Champion of the Year 

[September 16, 2020] The Small Business Administration (SBA) has named Laurie Driscoll, Vice President of  South Eastern Economic Development Corporation, the 2020 Financial Services Champion of the Year for Massachusetts. Driscoll earned the recognition as an advocate for small businesses, providing technical support and financing expertise to underserved entrepreneurs throughout the Commonwealth.

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SEED Receives Grant from U.S. Department of Commerce Economic Development Administration CARES Act Funding 

[August 28, 2020] The South Eastern Economic Development (SEED) Corporation has been awarded a $3.6 million grant from the Economic Development Administration CARES Act Recovery Assistance Fund under the U.S. Department of Commerce.  This new award is in addition to SEED’s current EDA grant funding of $3 million in support of the growth and development of entrepreneurs and small businesses in the South Eastern Massachusetts region.  Counties covered by these EDA funds include; Barnstable, Bristol, Dukes, Essex, Nantucket, Norfolk, Plymouth and Suffolk. 

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SBA Announces First Online VETRN Training Program for Veteran Small Business Owners

[May 29, 2020] The SBA announced the first online VETRN Training Program for veteran small business owners and their immediate family members beginning in August 2020.

This award winning VETRN Streetwise MBA program was created exclusively for veterans to provide them with the skills, resources, mentoring and networking necessary to grow their own small business. The program is free of charge and is open to veterans and family members of established small businesses located in all New England states, New York and New Jersey.

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South Eastern Ecomonic Development Corporation home page

80 Dean Street,
Taunton, MA 02780

1-508-822-1020

Business Hours:
Mon-Thu 8am-5pm
Friday 8am-4pm

SBA Lender Certified CDFI US Department of Treasury
SEED Corporation is a certified lender in Massachusetts and Rhode Island.

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SEED Corporation is an equal opportunity lender and business assistance partner.