Second Round of Funding Will Open March 1, 2023. Applications Will Be Accepted Through March 21, 2023. Mayor Katjana Ballantyne announces that Somerville’s Small Business Recovery Fund will reopen on March 1, 2023, with more inclusive eligibility criteria to better serve Somerville business owners. This round of funding will distribute approximately $500,000 to help local businesses as they recover from the continued impacts of the COVID-19 pandemic. The fund provides forgivable loans for eligible applicants worth up to $15,000 for brick-and-mortar businesses and $5,000 for home-based businesses. To qualify, businesses must be located within the City of Somerville, have 20 or fewer full-time employees, and be able to demonstrate a decline in revenue over the past several years, among other criteria. Applications will be accepted from March 1 through March 21, 2023. “Every day, whether I’m getting a morning coffee, buying my family’s groceries, or picking up my dog’s favorite treats, I am constantly inspired by the passion and ingenuity of Somerville’s small business community, but the pandemic has created difficult challenges,” said Mayor Ballantyne. “By reopening the Small Business Recovery Fund we aim to strategically target assistance to local business owners that will help them on the road […]
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