Home Grants INCLUSIVE GRANT PROGRAM

INCLUSIVE GRANT PROGRAM

by opportunitydiary

Application Deadline: April 4, 2022 at 11:59pm

In response to the COVID-19 pandemic, the Commonwealth of Massachusetts has made $50,000,000 available to support small businesses negatively impacted by COVID-19. This program targets businesses that focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups, underserved markets, and those owned by minorities, women, veterans, disabled individuals, or those that identify as part of the LGBTQ+ community. MGCC will administer grants up to $75,000 for eligible small businesses.

These funds were appropriated through the state’s share of the American Rescue Plan Act.

Eligibility

Businesses eligible to receive an Inclusive Grant must meet all the qualifications below.

  • Business must meet at least one of the following criteria:
    • Minority-owned
    • Woman-owned
    • Veteran-owned
    • Disability-owned
    • LGBTQ+-owned
    • Focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups or underserved markets
  • Business must be Massachusetts-based operating in-state that has been negatively impacted by the COVID-19 pandemic
  • Address on your Federal Business Tax Return must be within Massachusetts
  • Business must be a for-profit entity (sole proprietorship, partnership, corporation, cooperative or LLC)
  • Business must be owned by individuals
  • Business owners must have one of the following: Social Security Number or ITIN
  • Business must currently have between 2-50 full-time equivalent (FTE) employees, one of which is the owner
  • Business must have a minimum of $40,000 in operating expenses based on 2020 Federal Business Tax Returns
    • line 28, IRS Form 1040 Schedule C
    • line 24, IRS Form 1120-C
    • line 20, IRS Form 1120-S
    • line 27, IRS Form 1120
    • line 21, IRS Form 1065
  • Business revenues must be between $40,000 to $2,500,000 based on 2020 Federal Business Tax Returns
    • line 1, IRS Form 1040 Schedule C
    • line 1c, IRS Form 1120-C
    • line 1c, IRS Form 1120-S
    • line 1c, IRS Form 1120
    • line 1c, IRS Form 1065
  • Business must be currently in operation
  • Business must have been established prior to 09/30/2020
  • Business must be in good standing with federal, state and city/town:
    • Business must be current on all taxes; and
    • Have active and valid state licenses/registrations, if applicable

Application Procedure

While all businesses meeting the program’s criteria are eligible, priority will be given to businesses that fit the below conditions:

  • Located in a Gateway City
  • Have not received relief aid from Federal, State or local programs
  • Priority given to smaller companies based on revenue size

Please be advised:

  • No business and/or business owner is eligible to receive more than one grant from MGCC’s grant programs
  • Businesses that have not experienced a negative economic impact from public health emergency need not apply

Compliance with Federal Funds, Laws and Regulations: Applicants must comply with all applicable laws.

Official Website: INCLUSIVE GRANT PROGRAM

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