By JULIE CUNNINGHAM
(Greenfield, MA) – The City of Greenfield has announced the establishment of a COVID Recovery Micro-Enterprise Assistance Program, a loan program for Greenfield’s small businesses that are suffering from the COVID-19 crisis. These $5,000 forgivable loans are meant to help small businesses until they can access other funding programs or restore revenue streams. Businesses applying for these loans must be located in Greenfield, have five or fewer employees, including the owner, and the owner’s household income must be less than 80% of the HUD median income, among additional requirements.
“These businesses are the engine oil that allows our larger economic engine to run. They are essential to our coming recovery,” said Mayor Roxann Wedegartner.
Coming soon, the city hopes to announce larger $10,000 forgivable loans for businesses with 10 or fewer employees. These loans are meant for small businesses that do not meet the criteria of Micro-enterprises that have been in operation for at least six months. For more information about the criteria for the loan program click here.