Acton Joins Four Cities on Small Business Repayable Loan Program

ACTON, MA – Acton and four other cities partner with The Resource, Inc. to provide forgivable loans to small businesses.

Acton Received $ 1.6 Million Community Development Block Grant – Coronavirus Financing of a loan-grant program for micro-enterprises. The program offers businesses a one-time grant of up to $ 10,000 to help cover costs such as rent, personnel, and utilities. The grant is open to small businesses with five or fewer employees, which includes all owners and whose owner (s) meet the low to moderate household income criteria designated by the US Department of Housing and Urban Development in all five cities. .

The other four participating cities are Maynard, Boxborough, Littleton and Westford.

“We are grateful to be able to use this $ 1.6 million in CARES CDBG-CV funding to help micro-businesses in our five communities that have been financially impacted by the COVID-19 pandemic as well as two other programs targeting suppliers. services, which will be announced in early February, ”said Acton CEO Mangiaratti. “These businesses have been significantly affected by the pandemic over the past year, and this funding, which can be used for expenses not covered by other funding programs, will hopefully help our local businesses to get through this difficult period. “

Acton is the flagship city of the program. Funding comes from the Coronavirus Aid, Relief, and Economic Security Act.

If businesses would like to see if they are eligible, visit www.trimicroeloans.org and choose the Acton Boxborough 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 served basis.

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