Photo by Maddie Meyer/Getty Images
Massachusetts Governor Charlie Baker rolled out a $668 million relief program on Dec. 23 targeted at helping small businesses, giving priority to those that have been hit hardest by the pandemic, including restaurants and bars. Half of the funds are expected to go to businesses that were unable to access the state’s previous small business aid efforts, which were heavily oversubscribed. Businesses that applied previously but were unable to access state aid will not be forced to re-apply this time around, Gov. Baker said.
The program, which will be administered by the Massachusetts Growth Capital Corp., and paid for in most part by the recently passed $900 billion federal stimulus bill, will provide small businesses with up to $75,000 or three months of their operating expenses. The funds, which will be paid out as grants (and will therefore not need to be repaid), can be used to cover payroll, mortgages, debt, and other operating costs. The sta