The City of Somerville’s New Small Business Vitality Grant offers up to 12 months of rental support for physical storefronts.
Donor Name: City of Somerville
State: Massachusetts
City: Somerville
Type of Grant: Grant
Deadline: 05/15/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: 1 Year
Details:
Priority Applications
During the review process, priority points will be given to:
- Businesses that have not received funding from the City or State previously (1 point)
- Businesses that are opening this storefront as a result of business displacement. Displacement is defined as: a business had to close its previous location as a result of the business storefront relocating from an “act of God” or extreme rental increase since April 2020. Documentation of rent increase from previous location required. Evaluation will be case-by-case as rent structures are varied (1 point)
- Immigrant-owned/women-owned/black, indigenous, people of color–owned (BIPOC)/ veteran-owned/lesbian, gay, bisexual and transgender (LGBTQIA)-owned/disability-owned business enterprises (1 point)
- Businesses within a Qualified Census Tract (QCT) (1 point)
- Businesses with fewer than 5 full-time employees (1 point)
- Somerville resident-owned business enterprises (1 point)
Funding Information
Funding will be up to $50,000 in rental support, covering both past and future rent expenses with a limit of 12 months.
Eligibility Criteria
Eligible Applicants Eligibility requirements for the New Small Business Vitality Grant include:
- The Business must be physically located in Somerville, Massachusetts.
- The Business must have opened a new storefront to the public on or after January 2023, or has leased a vacant space and is intending to open a new storefront in 2024.
- The Business must be a physical (brick-and-mortar) storefront; home-based businesses are not eligible.
- The Business must have fewer than 20 full-time employees.
- The Business must have a lease agreement for at least one year following the grant award.
- The Business must be operating in 5 or fewer locations.
- The Business must not meet the definition of formula retail – franchises, including independently owned locations, are not eligible for this Program.
- The Business must agree that if awarded, the Business will prioritize hiring local Somerville, MA residents, with a preference for low to moderate-income individuals when possible and suitable.
For more information, visit City of Somerville.
