Small & Growing Businesses
Small business? MGCC actively maintains this list of resources to support small business success.
Loan, Grant, Venture, and Other Capital Programs
- Massachusetts Growth Capital Lending Products - MGCC makes loans to small businesses, as small businesses are instrumental to the economic vitality of the Commonwealth. These loans may be creative or flexible to suit the needs of the borrower. Businesses can reach out directly to MGCC or read the FAQ to learn more about these loans.
- MassDevelopment Lending Products - MassDevelopment offers a range of loans and guarantees to meet the needs of small businesses. Eligible businesses can apply for financing using the links embedded on the website.
- MassVentures Venture Capital Investments - MassVentures is the Commonwealth’s strategic venture capital team and supports early-stage deep tech companies through investment and technical assistance. Companies can reach out to learn more about these opportunities.
- CDFI & CDC Capital Match Program (MGCC) - Administered by MGCC, this program seeks to spur job creation across the Commonwealth, support entrepreneurship and small business recovery, sustainability, resilience and growth by lowering the barriers to capital access faced by small businesses. MGCC awards grants to eligible non-profit community-based lenders who then make loans to small businesses. Small businesses can access these loans directly through CDFI or CDC grantees (listed under “Financial Resources” here).
- Economic Development Incentive Program (EDIP) - EDIP seeks to create new jobs and help businesses grow. Growth is encouraged by offering credits to lower taxes in exchange for job creation.
- CDFI & CDC Capital Match Program - Administered by MGCC, this program seeks to spur job creation across the Commonwealth, support entrepreneurship and small business recovery, sustainability, resilience and growth by lowering the barriers to capital access faced by small businesses. MGCC will award grants to eligible non-profit community-based lenders.
- Biz-M-Power Crowdfunding Program (MGCC): The Biz-M-Power crowdfunding matching grant program offers small businesses in Massachusetts financial assistance with their acquisition, expansion, improvement or lease of a facility, purchase or lease of equipment, or with meeting other capital needs for the business. Businesses can access this program directly through SBTA Providers. The program has application resources available in 10 languages.
- Empower Digital Grant Program (MGCC): The Empower Digital Grant is a match grant awarded to small businesses in Massachusetts that seek to improve their business’ digital capabilities. Businesses can access this program directly through SBTA Providers. The program has application resources available in 10 languages.
- State Trade Expansion Program (MOITI) - Offsets international business development and related marketing costs for small businesses. STEP grant proceeds may be used for specific international business development and marketing costs. Businesses should watch for the application window on the listed website.
- SBIR Target Technologies (START) Program (MassVentures) - Helps high growth companies expand local employment opportunities, promote local manufacturing and commercialization, and stimulate innovation across the Commonwealth.
- Economic Development Incentive Program (MOBD) - EDIP seeks to create new jobs and help businesses grow. Growth is encouraged by offering credits to lower taxes in exchange for job creation. Businesses should reach out to their Massachusetts Office of Business Development Regional Director to learn more about EDIP.
Technical Assistance Services
- MGCC Small Business Resource Guide: MGCC actively maintains this list of resources to support small business success, organized by category and linking to partner organizations. The list includes resources for employers like information on layoff aversion programs, compliance guidance, technical assistance opportunities, nonprofit lending, and others.
- Small Business Technical Assistance Grant Programs (MGCC) - The SBTA Grant Program builds operational capacity and skills of organizations that are providing technical assistance, education, and access to capital to small businesses, including many owned by women, minorities and veterans. The grant program strengthens ongoing business-development activities in low-and moderate-income and underserved communities, and in Gateway Cities across the state. Businesses can access these services directly through SBTA Providers.
- Small Business Development Center Network - Massachusetts SBDC fosters the start, growth and sustainability of small business by providing high-quality, in-depth advising, training and capital access.. Small businesses can register for these sessions online.
- Entrepreneur Mentoring (MassTech) - Grants fund multi-year projects to strengthen entrepreneur and startup mentoring activities in regions and communities across the Commonwealth. Interested entrepreneurs can apply here.
- Regional Tourism Councils - The state is divided into 16 individual tourism regions and each region is marketed by a Regional Tourism Council (RTC), a nonprofit, membership-based organization. The RTCs develop regional advertising, public relations, brochures, and other marketing initiatives throughout the year. The state’s annual grant program helps the RTCs accomplish their marketing initiatives.
Massachusetts Life Sciences Center (MLSC)
- Research Infrastructure Program (formerly the Open or Competitive Capital Program) - The design of this program is to provide grants for capital projects that support the life sciences ecosystem in Massachusetts by enabling and supporting life sciences research and development in the Commonwealth.
- Life Sciences Tax Incentives - The Tax Incentive program is offered to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The program provides incentives to companies, of all sizes, looking to expand their efforts by creating new, long-term jobs in Massachusetts.
- Bits to Bytes - The MLSC launched Bits to Bytes to provide grants for scientific projects that generate and analyze large datasets to answer pressing life science questions, and to attract and train data scientists in the Commonwealth.
- Drug Delivery
- Women's Health - The Women’s Health Program will support collaborative projects that aim to improve the discovery, technical innovation, and/or analysis of datasets to answer pressing life science questions around women’s health.
- Novel Therapeutics Delivery - The Novel Therapeutics Delivery program aims to foster the development of novel technologies and techniques for the delivery of existing or innovative therapies by working at the intersection of engineering, biology, chemistry, and medicine.
- Building Breakthroughs (Biomanufacturing) - The Building Breakthroughs Capital Call was designed to provide grants for capital projects that support biomanufacturing innovation, including improvements to upstream/downstream processing, production of cell and gene therapies, monoclonal antibodies, and small molecules, quality and safety, and storage/stability, in the Commonwealth.
- Life Sciences NIIMBL - The MLSC has partnered with the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL) to accelerate biopharmaceutical manufacturing innovation, support the development of standards that enable more efficient and rapid manufacturing capabilities, and educate and train a world-leading biopharmaceutical manufacturing workforce, fundamentally advancing U.S. competitiveness in this industry.
- Massachusetts Next Generation Initiative (MassNextGen) - This is a competitive program. Women-led early-stage life science companies will be awarded a year-long customized package of support, which includes non-dilutive grant funding and access to a network of seasoned Executive Coaches from the life sciences ecosystem to refine their business strategies and effectively raise capital.
Massachusetts Technology Collaborative (MassTech)
- Mass. Manufacturing Innovation Initiative (M2I2) - Through the creation of sector-specific Manufacturing USA Centers, M2I2 advances innovations and job growth within the state through cross-collaboration among companies, universities, national labs, government, incubators, accelerators, and other academic and training institutions.
Massachusetts Manufacturing Accelerate Program (MMAP) - MMAP seeks to invest in small- to medium-sized manufacturers to help coordinate and prepare our supply chain to respond to increasing demands and to spur new opportunities for growth.
- Innovation Institute - Funding to assist in supporting the ecosystem for innovation and industry cluster growth across Massachusetts.
- Emerging Technology Fund - The Emerging Technology Fund (ETF) is designed to help growing technology companies by awarding loans for acquisition, expansion, working capital, or equipment purchases.
- Cultural Facilities Fund - The Cultural Facilities Fund is an initiative to increase public and private investment in cultural facilities throughout the state. The program is administered jointly with the Massachusetts Cultural Council for 501(c)(3) organizations engaged in the arts, humanities, or interpretive sciences.
- Military - The Military Asset and Security Strategy Task Force (MASS-TF) works to expand the number of missions, spur job creation, and protect economic investments at Massachusetts’ six military installations and their surrounding communities.
Innovative Technology Transfer
MassTech R&D Fund - Supports large-scale, long-term projects that have the potential to spur innovation, promote cluster development, and grow jobs by investing in critical research & development (R&D) infrastructure.
MassVenture's Early Stage Venture Capital Investments - Seed investment and support for Massachusetts based deep tech startups