The $75 million will be focused on small businesses that employ between two and 50 people and that have annual revenues between $40,000 to $2,500,000 based on 2020 Federal Business Tax Returns. $25 million will be directed toward businesses that did not qualify for previous MGCC grants because of a lack of revenue loss in 2020 (New Applicant Grant Program
); and $50 million will be directed to businesses that reach underserved markets and historically underrepresented groups, or are minority-, women-, or veteran-owned businesses, or are owned by individuals with disabilities or who identify as a member of the LGBTQ+ community (Inclusive Grant Program
Under both programs, grants will range from $10,000 to $75,000, and will be capped at the lesser of $75,000 or three months of operating expenses. Grant funding can be used for employee and benefit costs, mortgage interest, rent, utilities, interest on debt, and costs to pivot the company due to the COVID-19 pandemic.
for more information about both programs and to apply. Applications must be submitted online by Monday, April 4, 2022 at 11:59pm.
MCCI will be holding information sessions via Zoom every Tuesday in March to help you understand both programs, eligibility, approved use of funds, required documentation, and how to submit an application. Click below to sign up.