Hopkinton to provide grant money for small businesses
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Hopkinton town hall
The town of Hopkinton announced on Monday that it has started accepting applications for Economic Support Grants for local small businesses that were impacted by the COVID-19 pandemic.
"Small, local businesses are a valuable part of our community and faced many unprecedented hardships due to the pandemic," Town Manager Norman Khumalo said in a press release. "We are pleased to be able to offer this funding to provide stability to Hopkinton's small businesses as they continue to recover from the pandemic's impacts."
Individual grants of $5,000 will be awarded to small businesses in the town and the funds can be used to cover expenses for payroll, rent, mortgage interest, utilities, inventory, COVID-19 supplies, personal protective equipment and more. Grants can’t be used for personal expenses of owners or employees. The town has $100,000 of funding to hand out.
Applicants must meet the following criteria:
- 25 or fewer employees
- Primary place of business must be located in Hopkinton
- Must have been adversely impacted as a result of COVID-19. Examples of adverse impact may include, but are not limited to: decreased revenue or gross receipts; financial insecurity or increased costs; challenges covering payroll, rent, mortgage and other operating costs; or limited capacity to weather financial hardship.
- Owners do not have a conflict of interest, which is defined as follows: No elected or appointed officials of the Town of Hopkinton, employees of the Town of Hopkinton, or any of their immediate family members may have an ownership interest in the business. Immediate family includes (whether by blood, marriage or adoption) the spouse, parent/stepparent, child/stepchild, brother/stepbrother, sister/stepsister, grandparent, grandchild, and in-laws
- Does not discriminate on the basis of race, color, national origin, sex, gender identity, disability, religion or sexual orientation
- Must have and maintain an active business physically located within the Town of Hopkinton at the time of application and at the time of receipt of grant funds
- Cannot be barred from receiving state or federal funds
- Must be current on all Town of Hopkinton taxes and fees
- Non-profit organizations are eligible, provided that the organization complies with all of the items listed above, it maintains a physical building/facility within the Town of Hopkinton which is the primary place of its operation, and its building/facility is open to the public.
Some categories of businesses are ineligible for the grant money. Banks and financial institutions as well law firms and attorneys, physicians, dentists, surgeons and veterinarians, insurance brokers and agents, real estate brokers and sales agents, architects, engineers and land surveyors cannot receive funds.
Applications will be accepted and processed on a first come, first served basis.
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