MA COVID-19 Innovation Challenge: Six-Week Business Accelerator — Apply Today!

1.19.2021

 

Staff Contribution
 
The MassTech Collaborative has recently announced its next accelerator program in its series of Innovation Challenges aimed at identifying and growing innovative technologies inspired by the COVID-19 pandemic.
 
Entrepreneurs developing connective technologies with the potential to spark economic recovery and strengthen resiliency in the flow of goods, services, and information are highly encouraged to apply for the Massachusetts COVID-19 Innovation Challenge.
 
The first place winner will receive $40,000, and the second place winner will receive $10,000. Application deadline is Friday, February 19.
 
Questions regarding the accelerator may be directed to Megan Marszalek (marszalek@masstech.org).
 
As a reminder, if you’re a local entrepreneur or small business with new ideas—additional resources and support to foster your growth are available through our newest initiative, New Bedford SourceLink!
 
New Bedford SourceLink was developed as a supportive platform to connect maritime, arts+culture, and main street entrepreneurs to a network of local, regional, and national resource partners to foster innovation, growth, and prosperity. Get started by tapping into the Resource Navigator to begin making connections, and building your concept here in New Bedford.

Breaking News: Governor Baker Extends Capacity Limits and Other Measures

1.8.2021

 

Staff Contribution
 
In yesterday’s press conference, Governor Baker extended the 25% capacity restriction to businesses initially set in place during the holidays.
 
The restrictions will now be extended until at least January 24, as COVID-19 cases surge and hospitals battle occupancy rates.
 
Indoor and outdoor gathering limits will remain 25 people outside and 10 people inside, including for events.
 
Baker noted that “..over the next two weeks, we’ll continue to look at and evaluate the data to make further decisions.” Baker acknowledged the hardship this brings to small businesses but encouraged those that had not done so already to apply for the new round of COVID-19 specific grants available. For more information and to apply, please click here.
 
To view the updated guidance and press release, please click here.
 
For more information on the status of reopening in New Bedford and other important news, visit New Bedford’s COVID-19 page.

Governor Baker Announces $668 Million Small Business Relief Package

12.28.2020

 

Staff Contribution
 
We’re happy to share that additional financial assistance is coming for our local small businesses that have been hit hard by the pandemic.
 
Last week, the Baker-Polito administration announced a $668 million boost to the Small Business Grant Program to help several industries that have been negatively impacted by the pandemic, including:
 
-Restaurants, bars, and caterers
-Indoor recreation and entertainment establishments
-Gyms and fitness centers
-Event-support professionals (photographers, videographers, etc.)
-Personal services
-Retail
 
Grants will be offered up to $75,000, but not more than three months’ operating expenses. Funds can be used to pay rent, employee wages and benefits, utilities, and pay down debt, among other expenses.
 
The Small Business Grant Program, which was established in the fall, currently has a pool of eligible applicants awaiting funding. This additional funding will allow the Administration to award more of those pending applicants.
 
Eligible businesses that already applied to the program but were not funded due to limited funds available will be prioritized for funding first and do not need to reapply.
 
New applications for additional funding will be accepted from December 31 through January 15. Massachusetts Growth Capital Corporation (MGCC) will administer the funds and manage applications.
 
For additional details about eligibility and how to apply, click here.
 
To view Governor Baker’s full press release, please click here. As always, as information becomes available, we will be sure to share it with you.

Breaking News: Governor Baker Announces Further Capacity Limits and Other Measures

12.23.2020

 

Staff Contribution

 
Beginning Saturday, December 26, many Massachusetts businesses will be limited to 25% capacity, and hospitals have been directed to postpone nonessential surgeries, in an effort to curb the anticipated increase in new coronavirus cases after the holiday while keeping schools and businesses open.
 
During yesterday’s press conference, Governor Baker also announced that social gatherings would be further limited to 10 people inside and 25 people outside.
 
The new restrictions are currently scheduled to run for two weeks, ending at noon on January 10, 2021, and will act as an additional layer of precaution to the preexisting restrictions.
 
To view the full updated guidance and press release, please click here.
 
For more information on the status of reopening in New Bedford and other important news, visit New Bedford’s COVID-19 page.

SBA’s PPP Loan Forgiveness Tips & Hints Webinar – Tuesday, December 15 1:00PM

12.14.2020
 

Staff Contribution
 

The U.S. Small Business Administration (SBA), One SouthCoast Chamber of Commerce, and the MA Small Business Development Center (MSBDC) would like to invite you to join Daniel Martiniello, Lender Relations Specialist, MA District Office, SBA for a discussion about available loan forgiveness application forms (3508, 3508EZ, & 3508S) and the submission process and timelines.

Join in for the informational webinar to learn about:
– FTE/Wage/Salary Reductions
– Safe Harbors/Exceptions
– When borrowers should use each form and helpful hints to avoid pitfalls

Time will be saved at the end of the presentation for discussion and Q&A.

To register, please click here.

Breaking News: Massachusetts Moving Back a Step in Phase 3

12.9.2020

 

Staff Contribution

 

Governor Baker has announced that beginning Sunday, December 13, the state will take a step back in hopes of stemming the recent surge in COVID-19 cases and hospitalizations.
 

In his press conference Tuesday, Baker said the move back to Step 1 of Phase 3 of his reopening plan is designed to get us back on track.
 

“We’ve let down our guard and we have work to do,” he said. “If we do nothing and stay on the track we are on now, we will create capacity problems for our health care system by the end of the calendar year,” Baker noted.
 

As such, indoor performance venues and high-contact recreational businesses will once again have to close, while businesses permitted to stay open will be reduced to 40% capacity.
 

According to Baker, the decision was made to prevent the spread of the coronavirus, promote more social distancing, and reduce mobility. “Everybody has the ability to stop the spread,” he said.
 
To view the full updated guidance and press release, please click here.
 
For more information on the status of reopening in New Bedford and other important news, visit New Bedford’s COVID-19 page.

Breaking News: City of New Bedford COVID-19 Small Business Grant & Loan Program Now Available

11.3.2020

 

Staff Contribution

 

We are excited to announce a new City grant program that is aimed at assisting small businesses with the ongoing COVID-19 crisis. We encourage all eligible businesses to apply and highlights of the program are available here.
 
To get started with a full program description and application forms please click here.
 
For technical questions about the program, please contact us at lending@nbedc.org and a member of the NBEDC team will be in touch.

Governor Baker Announces Updated Mandates for Businesses & Gatherings

11.2.2020

 

Staff Contribution

 

Governor Baker has announced that beginning Friday, November 6, new restrictions and mandates will take effect to help curb the recent spike of COVID-19 cases in the Commonwealth.
 

Since Labor Day, coronavirus cases in Massachusetts are up 278% while hospitalizations have risen by 145%, according to public health data.
 

“We’ve let down our guard and we have work to do,” he said. “If we do nothing and stay on the track we are on now, we will create capacity problems for our health care system by the end of the calendar year,” Baker noted.
 

Baker’s updated orders will include the following:
 
Per the revised Stay at Home Advisory, residents are instructed to stay home between 10 p.m. and 5 a.m., with the exception of going to work, running critical errands or taking a walk.
 
Face coverings are required be worn in all public places, even when people able to maintain six feet of distance from others.
 
Gatherings at private residences must now be reduced in size to 10 people indoors and 25 people outdoors, and must end by 9:30pm. Violations may result in fines of $500 per person above the limit. The limit on gatherings in public spaces and event venues remains the same.
 
Certain businesses and activities are required to be closed from 9:30 p.m. to 5 a.m. to coincide with the Stay At Home Advisory:

  • Restaurants (in-person dining must cease at 9:30 p.m., though takeout and delivery may continue for food and non-alcoholic beverages)
  • Liquor stores and other retail establishments that sell alcohol must cease alcohol sales at 9:30 p.m. (but may continue to sell other products)
  • Adult-use marijuana sales must cease at 9:30 p.m. (not including medical marijuana)
  • Indoor and outdoor events
  • Theaters/movie theaters (including drive-ins) and performance venues (indoor and outdoor)
  • Youth and adult sports
  • Golf facilities
  • Recreational boating and boating businesses
  • Outdoor recreational experiences
  • Casinos and horse tracks/simulcast facilities
  • Driving and flight schools
  • Zoos, botanical gardens, wildlife reserves, nature centers
  • Close-contact personal services (such as hair and nail salons)
  • Gyms, fitness centers and health clubs
  • Indoor and outdoor pools
  • Museums/cultural and historical facilities/guided tours

We recognize how hard small businesses and restaurants throughout the City have been hit by COVID-19 and encourage you to continue considering buying and dining locally in order to help support our community, culture, and economy.
 

To view the full press release, please click here.
 
For more information on the status of reopening in New Bedford and other important news, visit New Bedford’s COVID-19 page.

Main Street Small Business Grants Available — Apply Today!

10.22.2020

 

Staff Contribution

 

In addition to the state’s small business grants coming online today, the second round of the HartBeat of Main Street Grant Program is also rolling out to assist small businesses.  

 

The HartBeat of Main Street Grant Program was created to support brick-and-mortar businesses in commercial districts as they enter the next phases of reopening across the country.  

 

The program will fund solutions that help small business owners respond and adapt to the COVID-19 pandemic and also help to revitalize and strengthen older and historic downtown commercial districts. 

 

Grants of $5,000 to $15,000 will be awarded on a competitive and first-come, first-served basis. 

A minimum of 50 percent of grants will benefit diverse-owned businesses, as defined by the Small Business Administration as minority, woman, veteran, disabled, and/or LGBTQ-owned.

 

Applications will be accepted beginning today at noon. The deadline to apply is October 29, 2020 at 7:59 PM.  

 

To learn more and apply, please click here.

State Announces COVID-19 Small Business Grants — Apply Today!

10.22.2020

 

Staff Contribution

 

The Commonwealth of Massachusetts has made $50.8 million in grants available to support small businesses, microenterprises, and their employees, families, and communities.
 

Massachusetts Growth Capital Corporation (MGCC) will be administering these funds to businesses experiencing economic hardship and a loss of income due to the COVID-19 pandemic.

 Grant funding is intended to help businesses adversely impacted by the pandemic.

 
 Preference will be given to small businesses whose owners are women, minorities, veterans, members of other underrepresented groups, who are focused on serving the Gateway Cities of Massachusetts, and those most negatively impacted by COVID-19 . Preference will also be given to applicants that have not been able to receive aid from other federal programs related to COVID-19.
 
Applications will be accepted beginning today at noon. The deadline to apply is November 12, 2020 at 12:00 PM.
 
To learn more and apply, please click here.