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12/29/2020
 
Posted By: FTC Admin

Massachusetts
Sector Specific Grant program website is now available
Applications can begin on Thursday 12/31/20 at 12:00PM


Details on how to apply and eligibility requirements are available at: Empowering Small Business.org

Please know that MRA is not involved in the grant selection process and most likely cannot answer specific application questions. If a general issue arises, please let us know.

Current Available Information:

  • The application period for the new program will run from Thursday, December 31st through Friday, January 15th.
  • Businesses that already applied to MGCC's first small business relief program from October do not need to reapply to the new program. All applications in the existing program are currently being reviewed.
  • Businesses that have already submitted complete and accurate applications to the first program and either (a) meet the demographic preferences from the first program or (b) meet the sector-specific preferences from the new program will receive funding.
    • Demographic preferences: Minority-owned, women-owned, veteran-owned, LGBTQ+-owned, businesses owned by persons with disabilities, or businesses located in Gateway Cities
    • Sector preferences: Restaurants/Bars, Independent Retailers, Indoor Recreation and Entertainment, Personal Services, Event Support Companies
  • Businesses that have already applied to MGCC through the first program will be notified of their award status by January 18th.
  • Businesses that have not already applied to MGCC and choose to apply in the new program will be notified of their award status in February.

Complete program overview for the sector-specific program can be found here.


Washington DC
President Trump Signs Stimulus Bill


After an unexpected delay, the Stimulus bill and Government funding legislation have been signed into law. Many of the provisions of the bill require Treasury to write regulations, which according to the language passed, they have ten days to implement. It appears that PPP money will hopefully start flowing in mid-late January. We expect more specific information to become available in the coming days and in the early parts of next week; including:

  • use of employee retention tax credits in 2020 for time periods not covered by PPP. This provision could be very valuable to many employers.
  • availability and extensions of employer tax credits under the FFCRA for employees impacted by Covid
  • improved and streamlined process for loan forgiveness