Medford Opens New Round Of Small Business Funding

MEDFORD, MA —Medford is opening another round of grant relief programs for local small businesses and microenterprises that have been impacted by the COVID-19 crisis. The second round will prioritize businesses that did not receive funding in the first round earlier this year and those that did not receive an MGCC Small Business Relief Grant.

The city has allocated $200,000 to support businesses during the pandemic. Programs are intended to assist Medford businesses with challenges around their ability to remain open (or re-open as permitted), employee retention and the coming winter months.

Funds may be used to cover commercial rent or mortgage, employee wages, resources to establish a business's presence online, perishable inventory loss due to an interruption of business and other operating expenses.

Applications will be accepted through Dec. 7 at 11:59 pm.

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

Applications to both programs will be accepted through Monday, December 7, 2020.

To apply for grants for a Microenterprise, visit https://tinyurl.com/Medford-Microenterprise-2.

To apply for grants for small businesses, visit https://tinyurl.com/Medford-SmallBusiness-2.

To watch a tutorial of how to apply, you can visit https://youtu.be/ixiqyFks6nY. This tutorial will also air on the Medford Community Media Channel on Monday, November 23, at 10 a.m., 2 p.m., and 7 p.m.

Questions? You can set up an appointment with staff from the Office of Community Development at: https://calendly.com/medford-ocd. Phone & video chat appointments are the default, in-person appointments will be considered but are limited.

This program is made possible by the U.S. Department of Housing and Urban Development, and applicants must meet certain eligibility requirements. These requirements are more thoroughly discussed in the application instructions, some highlights are numbered below. The City of 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 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 since September 2019

· 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:

· Medford residents who own a storefront in a municipality outside of Medford

· Non-profit organizations

· Marijuana establishments

If you have questions, you can contact the Office of Community Development at ocd@medford-ma.gov, or 781-393-2480.