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Deadline
December 20, 2024
Who is Eligible
This grant program offers businesses financial support to grow and invest in commercial spaces in Westborough, MA. It is competitive, and eligibility is determined based on the project’s alignment with program goals and evaluation criteria.
Details
- Funding Amount: Grants cover approved project costs up to $5,000. Rental assistance grants are available for new businesses for the first six months of rent (up to $5,000). Total program funding is capped at $60,000 annually, with the potential for awards up to $10,000 for projects that match other financial incentives like the Massachusetts Vacant Storefronts Program (MVSP).
- Funding Method: Awards are determined quarterly at EDC meetings. Applications are evaluated using New Business and Existing Business Rubrics, but the EDC has final discretion. Recipients must enter a grant agreement and submit proof of expenses for reimbursement or direct payment to vendors.
- Timing: Applications are reviewed quarterly, with deadlines two weeks before the first Tuesday of January, April, July, and October. The next application deadline is December 20, 2024. Payments are typically processed within 2–3 weeks after documentation is submitted.
- Decision Process: After an initial review by the Economic Development Coordinator, applicants are invited to present their projects at an EDC meeting, where a final vote determines funding.
Links
Apply for the Business Assistance Grant Program here.
