State unveils a new round of pandemic relief grants for struggling businesses - Boston.com .

Julia Coding

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Business

Small businesses may apply for the grants through April 4.

Julia Malakie/Pool
Governor Charlie Baker visited Panela restaurant in Lowell in May 2021 to talk about grants that are helping small businesses survive the COVID-19 pandemic.

The Baker administration on Wednesday launched a $75 million round of pandemic relief grants for struggling small businesses. This initiative is similar to an effort that distributed more than $700 million to 15,000-plus businesses across the state earlier in the COVID-19 pandemic, under the Massachusetts Growth Capital Corporation’s oversight.

Businesses with two to 50 employees, and up to $2.5 million in annual revenue, can apply for grants of up to $75,000 in this new round, to pay for a variety of business expenses. The Baker administration is setting aside $25 million for businesses that did not qualify for previous MGCC grants, and $50 million for businesses that reach underserved or economically disadvantaged markets, or businesses that are owned by women, people of color, veterans, individuals with disabilities, or members of the LGBTQ+ community.

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The latest round was made possible by a $4 billion package passed in the fall by the state Legislature to allocate a significant portion of the state’s federal American Rescue Plan Act funds and a state budget surplus. Governor Charlie Baker unveiled the new round of grants at an event on Wednesday in Brockton at the Luanda Restaurant & Lounge, a previous MGCC grant recipient.

— JON CHESTO

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