Medford Launches Small Business, Microenterprise Relief Funds

MEDFORD, MA – The city on Sunday announced two grant programs for small businesses impacted by the coronavirus pandemic. These programs are intended to assist Medford businesses with challenges surrounding their ability to remain open – or re-open as permitted – and with employee retention in the wake of the health crisis.

There is $450,000 available across the two funds. The money may be used to cover commercial rent or mortgage, employee wages, resources to establish a business's presence online and other operating expenses. Additional funding may be released at a later date; details will be released once they are confirmed.

The Microenterprise Relief Grant is open to businesses with five employees or fewer (including the owner). The Small Business Relief Grant application is available to businesses with six or more employees (including the owner). Applicants may apply for up to $10,000.

For those who are interested, applications to both programs will be accepted through May 31. To apply for grants for a Microenterprise, visit https://tinyurl.com/MedfordMicroLoan. To apply for grants for small businesses, visit https://tinyurl.com/MedfordSmallBusiness. Please contact Medford’s Office of Community Development at 781-393-2480 or ocd@medford-ma.gov with any questions.

Medford will rank applicants based on pre-determined criteria, including but not limited to: women-, veteran- and minority-owned businesses, brick-and-mortar establishments, businesses who have not yet received financial aid from other sources and businesses that were required to close under COVID-19 emergency orders.

Eligible Applicants

• The business must be a for-profit enterprise
• Have a physical establishment within the City of Medford OR belong to a resident of Medford but not have a physical establishment in another municipality
• Have no outstanding tax liens or legal judgements
• Have been operating in the City of Medford for at least 6 months
• Have a business license on file with the Medford City Clerk OR have a license to operate your business with the Commonwealth OR have a credential/license to operate from a professional governing body, if applicable.

Ineligible Applicants

• Residents who own a storefront in a municipality outside of Medford
• Non-profit organizations
• Marijuana establishments