Limited Time for Boston Businesses to Apply for $6 Million in Grants
Mayor Marty Walsh has announced three new funds to distribute $6 million of federal aid to small Boston businesses, but the deadline to apply is one week away.
This welcomed aid from the Mayor’s Office of Economic Development is designed to provide rent relief to small businesses, grants to minority-, woman- and veteran-owned businesses, and help for restaurants as we head into an uncertain winter. Business owners may apply for grants through one of the following funds:
The Commercial Rent Relief Fund. The fund supports business with commercial storefronts in neighborhood business districts through a direct payment of up to $15,000 to their landlords to cover rent from April 1, 2020, and December 31, 2020. The grant further works with business owners and their landlords or property managers to build long-standing partnerships by creating an agreement between landlords and tenants that allow tenants to remain in their commercial space for a minimum of 12 months after receiving the grant. The Commercial Rent Relief Fund will begin accepting applications on Monday, November 16, at 9 a.m. Applications will close on Monday, November 23, at 9 a.m. How to Apply: https://www.boston.gov/departments/small-business-development/covid-19-commercial-rental-relief-fund
The Certified Business Relief Fund. The fund helps Boston’s for-profit certified businesses most directly impacted by the COVID-19 pandemic. Certified businesses are defined as minority-owned business (WBE), woman-owned business (MBE), small and local business enterprise (SLBE), and/or, veteran-owned small business enterprise (VOSBE). These funds can be used to address rent, fixed debts, payroll, accounts payable, lost sales, lost opportunities, and other working capital expenses. The Certified Business Relief Fund will begin accepting applications on Monday, November 16, at 9 a.m. Applications will close on Monday, November 23, at 9 a.m. How to Apply: https://www.boston.gov/departments/small-business-development/covid-19-certified-business-fund
The High Road Kitchens Relief Fund. The fund is for sit-down, full-service restaurants that offer full table service. The fund will support 25 small business owners (25 or fewer employees) of local restaurants in specific City of Boston neighborhoods. Restaurants will receive $15,000 and may use the grants for rent or mortgage and payroll expenses incurred between April 1, 2020, and December 31, 2020. Grant recipients must pay the One Fair Wage ($12.75 per hour) for December. Selected restaurants will be eligible for another $5,000 grant from One Fair Wage once owners can show that restaurants paid the agreed-upon wages. The High Road Kitchens Relief Fund will begin accepting applications on Monday, November 16, at 9 a.m. Applications will close on Monday, November 23, at 9 a.m. How to Apply: https://www.boston.gov/departments/small-business-development/covid-19-high-road-kitchens-restaurant-relief-fund
Beneficiaries of the earlier programs City of Boston and the Office of Economic Development are not precluded from applying to one of the new funds. If you have questions, please contact Lydia Chesnick at [email protected] or your Bernkopf Goodman LLP attorney.