Franklincountynow.com Staff Report
(BOSTON) — Help is on the way for Massachusetts small businesses struggling during the coronavirus pandemic.
Gov. Charlie Baker on Wednesday announced $668 million in new state funding for restaurants, retailers, and other small businesses.
The Republican said the state will begin rolling out assistance to businesses as soon as next week, regardless of what happens with the federal COVID-19 relief bill recently passed by Congress.
He said the state effort builds on a program run by the Massachusetts Growth Capital Corporation, which awarded nearly $49 million in grants to more than 1,100 small businesses earlier this week.
Baker said many of the more than 10,000 applicants that sought but didn’t receive those initial funds will now be able to benefit from this new funding.
The $668 million will also be used to create a new program targeting industries hit hardest during the pandemic, he said.
Among them: restaurants, bars and catering companies; indoor recreation and entertainment establishments; gyms and fitness centers; photographers, videographers, and other event-support professionals; personal services and retail.
Baker said the new program will provide grants of up to $75,000 to help businesses cover staffing costs, rent and mortgage payments and debt obligations. Applications will be accepted starting Dec. 31; the winners will be announced in February.