We are happy to announce that the Chelsea Business Foundation, utilizing the $1million dollar fund established by the City Council of Chelsea and the Department of Housing and Community Development, is administering the Emergency Small Business Needs Assistance Program to support and stabilize businesses harmed by COVID-19. These funds can be used to cover fixed and variable operational expenses including rent, utilities, payroll, debt, and insurance.
The Program is structured as two-year, zero-interest, forgivable loans. The Program is divided into two lines of funding:
- The Restaurant Recovery Fund. This fund will be available to restaurants, bakeries, cafes, and eateries.
- The Small Business Relief Fund. This fund is a broadly designated pool of funds for which all business sectors may qualify, except for those qualifying for the Restaurant Recovery Fund. This condition may be waived if all Restaurant Recovery Fund financing is depleted.
Under this program, qualifying small businesses may be eligible for up to $20,000.
For more information on business eligibility, and how to apply, please visit: https://chelseabusinessfoundation.org/chelsea-small-business-relief-program/
Project: COVID-19 Emergency Small Business Needs Assistance Program
Grantor: City of Chelsea, Department of Planning and Development
Status: In progress