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ACTON -- Acton Town Manager John Mangiaratti, Boxborough Town Administrator Ryan Fererra, Littleton Town Administrator Anthony Ansaldi, Maynard Town Administrator Gregory Johnson and Westford Town Manager Jodi Ross are pleased to announce that additional funding is now available for qualifying businesses through the five communities' micro enterprise grant program that launched in January to support businesses impacted by the COVID-19 pandemic.
The program, which initially made $10,000 forgivable loans available to businesses is now able to provide up to $25,000 per business to support them amid the pandemic recovery. The loans are meant to help cover costs such as rent, staffing and utilities for small businesses with five or fewer employees (including any owners), whose owner or owners meet low to moderate household income qualification as designated by United States Department of Housing and Urban Development (HUD) in all five towns.
The micro enterprise grant program is the result of a partnership between the five communities and TRI, The Resource, Inc. The program is funded by a $1.6 million Community Development Block Grant. It has granted 15 forgivable loans since launching in January. The program has the capacity to provide many more grants for businesses in need.
Loans were made possible by a $1.6 million in Community Development Block Grant - Coronavirus Funding awarded to the Town of Acton through the CARES Act.
For more information and to see if your business qualifies, visit www.trimicroeloans.org and choose the Acton Boxborough Littleton Maynard Westford tab for the easy step-by-step pre-application questionnaire. Once submitted you will receive an email with further instructions. Pre-applications are reviewed on a first-come, first-serve basis.
Those with questions may contact TRI at email@example.com for more information.