Financial Opportunities

North Adams Microenterprise Stimulus Fund

Funds are still available for North Adams Businesses for forgivable loans up to $10,000

The City of North Adams is partnering with the Franklin County CDC to implement a Microenterprise Assistance Program (NAMSP) that opened on Thursday, October 15, 2020, with applications rolling until the money is depleted. Rounds will continue until funding is depleted. Microenterprise Assistance forgivable loans of up to $10,000 are available to businesses to help cover documented business losses due to the COVID-19 economic shut down that are not covered by other funding programs. The Franklin County CDC is implementing the forgivable loan programs for $108,000 for the City of North Adams.

CLICK HERE TO APPLY NOW

Information Session: View a pre-recorded information session, held on October 9, copy or click the link below. Enter the passcode to gain access to the video.

Passcode: u+Y=d1V1

Contact: Amy Shapiro, Business Development Director | Franklin County CDC | [email protected] | call or text cell (413) 834-2508

Forgivable Loans for 13 Northern Berkshire towns

ATTN: Businesses in Adams, Cheshire, Clarksburg, Dalton, Florida, Hancock, Hinsdale, Lanesborough, New Ashford, Peru, Savoy, Williamstown, or Windsor, please follow this link for the Northern Berkshire Regional Microenterprise Assistance Program for additional information and application materials.

Berkshire Regional Planning Commission is pleased to announce the launch of two Community Development Block Grant CDBG CV Grant Programs to provide assistance to low to moderate-income microenterprise business owners in Berkshire County. The purpose of each program is to assist low to moderate-income (LMI) microenterprise business owners to prepare for, prevent, and/or respond to the impacts of the coronavirus.

Eligible applicants will receive assistance in the form of grants up to $10,000 to be used to cover business costs such as rent, staffing, and utilities. These grants have been made available by the Massachusetts Department of Housing and Community Development (MA DHCD) utilizing funds received from the US Department of Housing and Urban Development (HUD).

In order to be eligible for this grant program, business owners must:
1.) be low to moderate-income, as defined by the FY20 HUD income guidelines provided;
2.) must employ no more than 5 individuals, including themselves;
3.) must have been licensed as a business in Massachusetts no later than 01/01/2019.

1-1 Business Counseling Services

Receive free counseling services from the North Adams Chamber Business Development team. This 1-1 business counseling session includes consultation of business structure and processes and an analysis of marketing, finances, and business plan critique.

This service is available to all Northern Berkshire-based businesses.

Interested?

Apply here

Other Counseling Services

Berkshire County Regional Employment Board
The BCREB provides leadership for workforce development in Berkshire County by aligning education and training with local labor market needs.

The Board develops policies, allocates resources, oversees programs, and serves as a broker between business and education and training providers. The Board’s membership is representative of the make-up of the Berkshire economy, including mostly small and medium sized businesses and a variety of employment sectors.

Massachusetts Small Business Development Center Network
The MSBDCN is committed to helping your business succeed in Massachusetts. We provide free, confidential, one-to-one business advising, and free or low-cost educational training programs to prospective and existing small businesses in Berkshire County.

Areas of assistance include, but are not limited to business plan development, preventure feasibility, cash flow analysis, personnel and organizational issues, conventional and non-conventional financing, and marketing.

Berkshire County, contact MSBDC Berkshire Regional Office at 413-499-0933

Franklin County Community Development Corporation

The FCCDC assists small business owners with business development in business planning, lending, and commercial space. Our goal is to help entrepreneurs who live or work in Western Massachusetts and the North Quabbin to minimize their risks by connecting them to resources and information to maximize their success. The purpose of the corporation is to stimulate a more vital rural economy, to maximize community control over our future economic destiny, and to expand opportunities for low and moderate-income residents.

SCORE
To make an appointment with a SCORE counselor, contact the Franklin County Chamber of Commerce at 413-773-5463, or Western MA SCORE at 413-785-0314