A new loan program has been announced by the Baker-Polito Administration aimed at small businesses impacted by recent storms and it’s open to business owners in Westford as well as the rest of Massachusetts.
Due to the unprecedented levels of snowfall in February, up to $1 million in microloans will be given to small businesses that were harmed by the storm in an attempt to help them regain financial stability and lost revenue.
Loans will range from $5,000 to $10,000.
“As small businesses throughout Massachusetts continue to recover from extreme winter weather conditions that have restricted business, we are pleased to announce this low-interest loan program is available to help them regain their financial stability,” said Governor Charlie Baker. “While our local economies continue to bounce back, we encourage everyone to continue shopping at their local retailers, restaurants and small businesses.”
Loans will be given until May 2015, additional information on how to apply as well as terms and conditions can be found at the Massachusetts Growth Capital Corporation website.