The Biz-M-Power crowdfunding matching grant program offers small businesses in Massachusetts financial assistance with their acquisition, expansion, improvement or lease of a facility, purchase or capital lease of equipment, or with meeting other capital needs for the business. Eligible applicants will be empowered to advance their business with an innovative approach to obtaining capital. Through crowdfunding campaigns, these businesses connect with their local residents and stakeholders to advance projects that support economic success and transformation for their business and in their communities. This program is funded by the Commonwealth’s Operating Budget appropriated $7,500,000 for this program.
Preference shall be given to small businesses owned by low- to moderate-income individuals (LMI), women, minorities, immigrants, non-native English speakers, U.S. military veterans, disabled individuals, members of the LGBTQ+ community, and businesses operating in Massachusetts Gateway Cities.
TOTAL FUNDS AVAILABLE: Commonwealth’s Operating Budget for Fiscal Year 2021 appropriated $7,500,000 for this program.
AWARDS: Businesses must crowdfund a minimum of $1,500 and a maximum of $20,000 to receive a 2:1 matching grant from MGCC between $3,000 and $40,000. The combination of crowdfunding dollars and 2:1 matching grant from MGCC, businesses can earn $60,000+ through this program.
CROWDFUNDING: Dependent upon application approval, businesses will launch a crowdfunding campaign to reach a financial goal. Goal must be met to receive 2:1 MGCC matching grant award. If businesses raise a minimum of $1,500, MGCC will award a matching grant.
NOTE: Businesses with retail stores or that offer face-to-face services may have a better chance with successfully crowdfunded campaigns. Examples include:
This is not an exhaustive list. Eligible businesses not on this list are still welcome to apply.
NOTE: Home-based businesses are not eligible to apply to Biz-M-Power. Examples of ineligible businesses include:
Biz-M-Power is open to businesses who meet the following requirements. Must be an entrepreneur or small business that:
NOTE: If a person owns multiple businesses and submits an application for each business, MGCC reserves the right to limit grant to one business per owner.
Compliance with federal funds, laws and regulations: Applicants must comply with all applicable laws.
Before starting: Need help applying?
If you would like to receive technical assistance with your application, we would be happy to connect you with a Small Business Technical Assistance (SBTA) Provider! Click this link to submit a SBTA Introduction Request: CLICK HERE
If you have questions regarding the Biz-M-Power Crowdfunding Matching Grant Program, please join us to ask your questions live. Office Hours will be held via Zoom.
After registering, you will receive a confirmation email containing the information to join the meeting.
QUESTIONS, PLEASE CONTACT: Theresa Ng, Community Project Manager
email@example.com or (617) 523-6262 ext. 266