Funding Opportunities & Support for Small Businesses / Entrepreneurs

Sep 29, 2021 | Small Business | 0 comments

The list below is not meant to be a comprehensive gathering of ALL funding sources that are available to small business and entrepreneurs in the Greater Fall River area. Opportunities exist to elicit funding from City, State, Federal, and private sources and it would be nearly impossible to list them all. With that being said, the list below provides a great place to start, in some cases linking to notice boards and blogs that are continually updated. We also encourage you to sign up for our Viva News weekly newsletter for featured opportunities.

FEATURED

MassDevelopment’s “Commonwealth Places”
Applications to the Commonwealth Places program will be considered on a rolling basis.
Commonwealth Places provides a creative funding mechanism to advance community placemaking projects throughout Massachusetts. The statewide program will help fund place-based, community-driven projects – art installations, parks, bike trails, markets, and more – that revitalize downtowns and neighborhood commercial districts. The program aims to engage and mobilize community members to make individual contributions through a crowdfunding platform with the incentive of a funding match from MassDevelopment. Click here for more information and to apply.

TDI Equity Investment Program
Beginning March 26, 2021, applications will be accepted on a rolling basis. This is a two-step process. Please click on the link to learn more.
MassDevelopment is introducing a notice of funding availability under a new, revamped version of the TDI Equity Investment Program to support projects on key properties in TDI Districts that will have significant economic impacts on neighborhood revitalization goals. TDI uses a “toolkit” approach to targeted neighborhood economic development, and this new program will serve as a key tool for assisting real estate developments in active TDI Districts, for the first time providing grants directly to developers and property owners to help make catalytic deals financially feasible. Applicants also have the opportunity to request funding as a loan in lieu of a grant.

Projects must be in or within close proximity to the TDI Districts in the following cities: Chelsea, Chicopee, Fall River, Fitchburg, Lawrence, Springfield, and Worcester. Projects must be located so that their completion will have a significant impact on the neighborhood in and around the TDI District.

The following types of applicants are eligible to apply for the program:

    • Public: Local governmental agencies and entities
    • Nonprofit: Community Development Corporations or other non-profit real estate developers, educational institutions, community action agencies, nonprofit entrepreneur support organizations
    • For-profit entities: private property owners and private developers

Visit the website using the link above for full details and application.

 

MAIN

U.S. Small Business Administration
In addition to loans, the SBA also provides limited small business grants and grants to states and eligible community organizations to promote entrepreneurship. Click here for a full list and comprehensive information on offerings for small businesses and community organizations.

Mass. Executive Office of Housing and Economic Development (EOHED)
The Department of Housing and Economic Development (EOHED) assists businesses and communities with tools and financing. Here, you can learn about a number of programs and grants offered by EOHED and its agencies. EOHED can be a valuable resource for businesses and communities, offering information and funding for everything from infrastructure to creative work spaces. Click the link for a list of ongoing, available programs. Deadline information will be updated as it becomes available.

MassDevelopment
At MassDevelopment, we offer financing and real estate solutions to support companies and nonprofits, increase housing, eliminate blight, and drive economic growth across Massachusetts. MassDevelopment provides grant money for programs that are specifically designed to improve economic development and competitiveness across the Commonwealth. Deadlines vary and are throughout the year so please check the site often. The Collaborative Workspace Program provides funds to accelerate the pace of new business formation, job creation and entrepreneurial activity in Massachusetts communities, by supporting infrastructure that funds community-based innovation

South Eastern Economic Development Corporation (SEED)
SEED is a regional nonprofit economic development corporation with the mission of empowering entrepreneurs, strengthening local economies, and creating jobs by financing all types of small businesses in Massachusetts and Rhode Island. With loan programs ranging from $1,000 micro loans to $5.5 million SBA 504 loans and a long history of assisting small business owners, SEED is a one-stop shop for anyone looking to start-up, grow, or streamline their business.

Massachusetts Small Business Development Center Network
MSBDC provides free, confidential, one-to-one business assistance and free or low-cost educational training programs to prospective and existing small businesses throughout the Commonwealth. The MSBDC fosters the start, growth and sustainability of small business by providing high-quality, in-depth advising, training and capital access.

EforAll Southcoast
Entrepreneurship for All (EforAll) is accelerating economic and social impact in communities nationwide through inclusive entrepreneurship. EforAll believes that everyone should have the opportunity to turn their dream of starting a business into a reality. They sponsor pitch contest quarterly where small businesses and entrepreneurs can win money for their projects.

Bristol County Economic Development Consultants
BCEDC helps businesses evaluate the many advantages of locating in Fall River and the surrounding towns, offering aggressive incentive programs including low interest financing, tax exemptions, employee recruitment and training services, and site selection assistance.

Local Banks with Small Business Assistance Programs/Divisions:

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