SPECIAL COVERAGE ON THE CORONAVIRUS
Hingham businesses impacted by pandemic get help from Governor Baker
By Greg Lane, Hingham Current Staff, Posted: October 23, 2020
Governor Baker announced millions in grants that could help Hingham businesses on Thursday, as part of the state's economic recovery plan. The Commonwealth of Massachusetts has made $50.8 million in grants available to support small businesses, micro-enterprises, and their employees, families and communities. The program focuses on getting people back to work, supporting small businesses, fostering innovation, revitalizing downtowns and ensuring housing stability.
Massachusetts Growth Capital Corporation will administer the funds to businesses experiencing economic hardship and a loss of income due to the COVID-19 pandemic.
The application process will remain open until Nov. 12.
The program includes small business grants of up to $25,000 for five or fewer employees. These fund may be used for working capital to cover business costs such as rent, staffing and utilities. Alternatively, businesses may be eligible to receive up to $75,000, but capped at up to three months of operating expenses, for actual expenses for 2020 during the pandemic. Expenses since March 10, 2020 can be considered but cannot exceed three months.
According the governor's website, the new grant program is part of a multi pronged economic rescue strategy with a total price tag of more than $770 million, funded by a mix of federal and state dollars.
The Town of Hingham could also benefit from the governor's program. A new $10 million round of the Shared Streets and Spaces Grant Program is now available to the town's community development department. The department could use the funding to implement or expand improvements to sidewalks, curbs, streets, on-street parking spaces and off-street parking lots. Separately, local recovery planning grants will soon be available to assist the town's long-term planning for its business districts. A total of $10 million is available for this program.
“This plan represents a comprehensive strategy to get people back to work and to support the small businesses hit the hardest by the pandemic, putting the Commonwealth on a path to recovery,” said Governor Charlie Baker. “By leveraging existing tools and programs and implementing new ones this plan will allow us to make critical resources and assistance to those who need it most available now.”