Biz-M-Power is a crowdfunding matching grant program that offers small businesses in Massachusetts financial assistance with their acquisition, expansion, improvement or capital lease of a facility; purchase or capital lease of equipment; or with meeting other capital needs for the business.
These are the key updates to the program:
- A 2:1 match: MGCC will grant two times the amount of money raised through crowdfunding.
- The minimum amount to match has been decreased to $1,500.
- You now need to raise only 33 percent of your total project.
- The maximum amount that will be matched has been increased to $40,000.
- This means a business owner could potentially receive a total of $60,000.
Applications are reviewed on a rolling basis until June 30, 2023 or until funding is depleted.