This program is focused on assisting low-income and moderate-income entrepreneurs with their acquisition, expansion, improvement or lease of a facility, purchase or lease of equipment, or with meeting other capital needs of a business through crowdfunding.
The objective of the BIZ-M-POWER grant is to provide entrepreneurs with new knowledge and skills for growing their business and advancing toward innovative approaches to obtaining capital through the earned support of local residents, neighborhoods, community members, and stakeholders alike.
Biz-M-Power has two phases for empowering Massachusetts small business owners and entrepreneurs for economic success. The goal is to promote the economic success of Massachusetts small business owners through support for raising capital/equity for businesses applying for the Biz-M-Power Grant. The first stage will be to apply to the program, which requires a partnership with an organization from MGCC’s network of Small Business Technical Assistance (SBTA) Providers, who will serve as a sponsor to the applicants. The second stage, pending MGCC application approval and Patronicity’s approval, will be to utilize Patronicity’s crowdfunding platform to leverage community support and raise funds to match the amount requested in their grant application.