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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.

SEED to Participate in Spanish-Speaking Micro Lender Panel hosted by Center for Women & Enterprise 

[July 14, 2022]  The Center for Women & Enterprise (Eastern MA office) will be holding a micro lending panel entitled Micro Loans: Capital for Your Business from Local Organizations administered entirely in Spanish. SEED Corporation will sit on the panel along with resource partners from Ascendus, Boston Local Development Corporation, Dorchester Bay Economic Development Corporation, the U.S. Small Business Administration, and Surfside Capital Advisors, all of whom will be delivering information on business lending practices to an audience of Spanish-speaking business owners. 

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SEED Receives $3 Million in American Rescue Plan Funds to Serve Small Businesses in Eastern Massachusetts 

[May 13, 2022]  U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding SEED a $3 million grant to capitalize and administer a revolving loan fund. This grant is funded by the American Rescue Plan. This grant will be used to provide gap financing to small, local businesses in Barnstable, Bristol, Dukes, Essex, Nantucket, Norfolk, Plymouth and Suffolk counties as they recover, grow, and create new employment opportunities. This EDA grant will be matched with $750,000 in local funds and is expected to create 100 jobs, retain 150 jobs, and generate $7.5 million in private investment, according to grantee estimates.

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$75 million in New Grants Available for MA Small Businesses

[February 24, 2022]  Governor Baker announced yesterday that the Commonwealth of Massachusetts has made $75,000,000 available to support small businesses negatively impacted by the COVID-19 pandemic. These funds will be administered through two different grant programs, the New Applicant Grant Program and the Inclusive Grant Program, are being provided through the Massachusetts Growth Capital Corporation. 

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SEED Names Baldies Pizzeria of Lakeville 2021 Small Business of the Year

[December 23, 2021]  SEED Corporation has selected Baldies Pizzeria of Lakeville, MA as the 2021 recipient of the Small Business of the Year Award. This family-owned and operated restaurant was established in 1998 by owner Mike Mastrangelo and specializes in gourmet brick-oven pizzas, as well as subs, tacos, soups, salads, and a wide variety of other main dishes. They also offer an extensive menu of craft beers (40 to try!), wines, and hard seltzers. 

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SEED Names Chris Cooney of Metro South Chamber of Commerce the 2021 Regional Business Advocate of the Year

[December 21, 2021]  SEED Corporation has selected Chris Cooney of the Metro South Chamber of Commerce as the 2021 recipient of the "Gus Yankopoulos" Regional Business Advocate of the Year Award for his volunteer service to SEED over the last 21 years. Established in 1999 in memory of Gus Yankopoulos, the award is presented annually on a merit basis to an individual who has performed exceptional work on behalf of the region’s economy. For the last 22 years, SEED has presented the winner with a Lucky print by the late local artist Arthur Moniz.

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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

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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.