Massachusetts Growth Capital Corporation announces FY 2015 funding awards for SBTA program

The Massachusetts Growth Capital Corporation has announced its FY 2015 funding awards for the Small Business Technical Assistance program, with thirty agencies receiving over $1.5 million in support.  MACDC is proud that nearly two-thirds of the funding will go to 17 MACDC member organizations. The funding is the result of MACDC’s campaign earlier this year to secure a new state appropriation from the legislature for this highly effective program.  The SBTA program is designed to help start and grow successful small businesses that are owned by people of color, immigrants, women or low-moderate income people.  Many of the businesses are located in distressed urban and rural areas where they provided needed jobs and services for the community.  The program was originally created in 2006 following an MACDC campaign to include the program in the state’s economic development strategy.  The program has been funded “off-budget” for the past three years, but needed a new state appropriation to continue in FY 2015.   In addition to these core funding grants, MGCC will also be providing supplemental funds to some of the grantees so they can provide paid professional services to certain local businesses. MGCC will also be partnering with the Mel King Institute for Community Building to provide professional training and capacity building support to the grantees.  “This program has a proven track record of reaching traditionally underserved businesses and helping them to thrive,” said MACDC President Joseph Kriesberg. “We are thrilled to see the program expanded this year.”  Kriesberg also thanked MGCC for completing the competitive funding process in a timely fashion.  “MGCC has done a terrific job in managing this program for the past several years and their leadership has been a key ingredient to its success,” he noted.