Boston business owners will have a second chance to get a major financial boost through a grant offered by the city, in an effort by the Wu administration to fill vacant commercial space in Downtown and other neighborhoods.
Mayor Michelle Wu announced on Monday that the city has opened applications for its second round of Supporting Pandemic Affected Community Enterprises (SPACE) grants, which will award up to 20 businesses with grants of up to $200,000 to fill vacant storefronts, with a focus on Downtown locations.
“Our small businesses represent the vibrancy and diversity of Boston and our communities,” Mayor Michelle Wu said a news release. “Since launching the SPACE Grant program, we’ve felt the outsized impact of supporting entrepreneurs who were eager to be located Downtown and filling vacant commercial spaces, but didn’t have the extra capital to make it happen. In this next round of funding, we’re excited to help another group of business owners find long-term success in locations throughout Boston.”
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The goal of the program is both to fill empty storefronts with small businesses, and help to close the racial wealth gap.
Businesses may apply whether they are seeking their first physical location, or looking to expand with a new location in the city.
Priority will be given to businesses in industries that were most impacted by the COVID-19 pandemic, including arts and entertainment, fitness, food, retail and more.
“The SPACE Grant program represents one example of how our Office is bringing foot traffic back to Downtown, closing the racial wealth gap, and overall making our City a more enjoyable place to live and visit,” said Chief of Economic Opportunity and Inclusion Segun Idowu in a news release. “This program taps into the talent already in Boston, providing not just funding but wrap-around, long-term technical assistance for continued success. I encourage any interested small business owners to apply.”
The program is being funded by money from the American Rescue Plan. Over the first round of grants, 24 entrepreneurs were awarded $2.8 million in funding.
The grant for the deadline is Nov. 10 at 5 p.m.
