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Program Application open from April 15th to May 15th, 2024

The City of Somerville’s New Small Business Vitality Grant offers up to 12 months of rental support for physical storefronts, with a maximum of $50,000. Eligibility for the New Small Business Vitality Grant is limited to newly established storefronts, with a start date no earlier than January 2023. Beneficiaries will receive reimbursements for both past and impending rent payments. To qualify, businesses must employ fewer than 20 full-time staff and engage in a lease agreement that commenced no earlier than January 2023. Grant amounts are tailored to individual needs, based on fair market rental prices. In return for this financial support, grant recipients are expected to prioritize hiring within the Somerville, MA community, particularly focusing on individuals from low to moderate-income backgrounds when feasible and appropriate. Additionally, businesses are required to strive to maintain operational status for a minimum of one-year post-grant receipt. Please note, this program is exclusive to physical retail locations and funds are limited; home-based enterprises do not qualify. 

 

 

The Program Application will open on April 15th, 2024 and remain open for 30 days until May 15th, 2024.

Funding will be up to $50,000 in rental support, covering both past and future rent expenses with a limit of 12 months. Grant amounts are based on fair market rental rates. 

Eligible Applicants Eligibility requirements for the New Small Business Vitality Grant include: 

  • The Business must be physically located in Somerville, Massachusetts.
  • The Business must have opened a new storefront to the public on or after January 2023, or has leased a vacant space and is intending to open a new storefront in 2024.
  • The Business must be a physical (brick-and-mortar) storefront; home-based businesses are not eligible.
  • The Business must have fewer than 20 full-time employees.
  • The Business must have a lease agreement for at least one year following the grant award.
  • The Business must be operating in 5 or fewer locations.
  • The Business must not meet the definition of formula retail – franchises, including independently owned locations, are not eligible for this Program.
  • The Business must agree that if awarded, the Business will prioritize hiring local Somerville, MA residents, with a preference for low to moderate-income individuals when possible and suitable.
     
  • Information on how to apply English
  • Information on how to apply Spanish


For questions contact: SomervilleSBVGSupport@iparametrics.com or call 857-557-6002.

 

New Small Business Vitality Grant Demo 2024


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