Thirteen MACDC members will be receiving nearly $450,000 in new funding to support their Small Business Technical Assistance programs thanks to a new round of funding announced by the Massachusetts Growth Capital Corporation (MGCC). The funding is part of a larger $700,000 state program administered by MGCC that provides grants to CDCs and other nonprofits working to start and grow small businesses in low- and moderate-income communities across the state.
"This funding will allow us to work with more small businesses that have potential to develop and hire more employees. This award is for Franklin County, Valley and Hilltown CDCs as we continue to work together to better serve businesses in western MA." - John Waite, Franklin County CDC
MACDC members that will receive funding under the program are:
- Franklin County CDC
- Valley CDC
- Hilltown CDC
- Quaboag Valley CDC
- Twin Cities CDC
- Greater Gardner CDC
- SMOC/Martin Luther King Center
- CEDC – Southeastern Mass.
- Community Development Partnership
- Jamaica Plain NDC
- LISC (on behalf of local CDCs in Boston)
MACDC has championed the Small Business Technical Assistance program since we were able to first get it established in 2006. Since 2011, the program has been managed by MGCC which also provides discounted capital to CDCs and CDFIs engaged in small business development lending. MGCC is a quasi-public agency established in 2010 to support small businesses throughout the state. In addition to supporting CDCs and CDFIs, MGCC is a direct lender and technical assistance provider to small firms and makes nearly $20 million in loans per year.