BOSTON
- Thursday, May 21, 2020 - Continuing a policy of rapid, equitable, and
transparent relief and support from the COVID-19 pandemic to all
Bostonians, Mayor Martin J. Walsh announced that nearly $4 million in
debt-free grants have been distributed to over 1,100 small businesses in
every neighborhood across the City of Boston through the Small
Business Relief Fund, including the $2
million distributed to businesses earlier this month. The businesses
receiving grants represent industries
most-impacted by closures, policies, or general loss of revenues due to
the COVID-19 pandemic throughout every neighborhood in Boston.
"I've
said it many times: small businesses are the heartbeat of our economy, and
they provide residents with the services they depend on every day,"
said Mayor Walsh. "Through the Small Business Relief Fund we have been
proud to support Boston's small businesses with a swift and direct infusion
of funds through a fiscally responsible and equitable system that will help
businesses stay open, pay employees, and strengthen our local business
districts."
Of
the nearly $4 million that has been distributed, the top five industries
funded represent small businesses in the most-affected industries,
including hospitality, personal care, arts and recreation, retail, and
healthcare and social assistance (home childcare, family services, personal
and home care aide, etc). Of the businesses receiving grants so far, 95%
have 15 or fewer employees, 52% are owned by people of color, 49% are
women-owned, and 46% are immigrant-owned. Grants from the Small Business
Relief Fund have been crucial to the survival of many Boston businesses,
and serve as a lifeline for businesses that experienced difficulty
navigating or accessing financial assistance through the Federal CARES Act.
A full list of businesses that have received funding is available
here.
"I
want to thank Mayor Walsh and the Economic Development Office for all of
their hard work and help. Natalia and the Small Business team made the
entire process very easy and the steps that the city has taken to keep us
informed, as well as assist those in need, has blown me away. I've
strengthened my faith in this city because of this experience," said
Kandace Cummings, Anita Kurl Salon in the South End.
"Thank
you for your support in this time of hardship, this gesture has made me
feel part of a community," said Ramon Zapata, AlbertStyle Barbershop
in Dorchester.
Managed
by the Mayor's Office of Economic Development (OED), this fund was designed
to disburse grants through a streamlined process without having to assume
additional debt, which can be used to address rent, fixed debts, payroll,
accounts payable, lost sales, lost opportunities, and other working capital
expenses. Through a combination of City, Federal, and private funds, a
total of $7.5 million has been made available to fully fund all remaining
eligible grant requests that were submitted during the application
process.
To
further assist the City's small businesses, the City of Boston has created
a new platform to help businesses source the personal protective
equipment (PPE) and cleaning supplies they will be required to have
available in order to ensure the safety of employees and customers as
industries begin to reopen. Along with industry-specific reopening
requirements, the page includes a list of self-identified, local suppliers
of PPE and cleaning supplies, information on the Commonwealth of
Massachusetts' vendor database, and partner organizations helping to
connect businesses with vendors.
As
business owners, employers, and employees navigate an evolving
COVID-19-related assistance landscape, the Economic Development Office has
created a Federal
Assistance Guide, Financial
Relief Handbook and FAQ
document, all of which are continuously updated. Small Business
conference calls will continue every Tuesday at 3pm to communicate policy
updates, answer questions, feature relevant City of Boston departments, and
troubleshoot the ecosystem of funding available from the state, federal,
and private industry.
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