About this Event
Welcome to the Monthly Meetup at Groundwork New Bedford! Join us for an exciting evening where the New Bedford Economic Development Council will be discussing the and programs.
NB100! is a grant program offered by the to promote entrepreneurship, grow local wealth, and strengthen community bonds. Through this program, entrepreneurs will have an opportunity to apply for a kick-starter grant up to $10,000.00.
What Are the Requirements?
- Be a for-profit entity
- Be based within New Bedford and have a valid New Bedford Business Certificate
- Be in business for no more than 24 months
Grant awardees shall match a minimum of 50% of the $10,000 maximum grant award in equity. To receive the full $10,000 grant, the total eligible start-up costs need to be at least $15,000. The program administrators will work with awardees to determine the appropriate mechanism(s) for the match. Examples include:
- Grantee to invest up to $5,000 cash equity into the business
- Grantee to supply up to $5,000 inventory, equipment, etc., already purchased for business. Final value of investment to be determined by the NBEDC.
- Grantee to provide up to $5,000 in-kind services (professional services, leasehold improvements, etc.) to business. Final value of services provided to be determined by the NBEDC.
Businesses including liquor and tobacco stores, pawn shops, adult entertainment establishments, passive
real estate investments, or businesses that do not meet all local, state, and federal laws and restrictions
are ineligible.
NBForward! is a small business assistance program that provides resources for businesses to get through current challenges, while looking toward investing in, and preparing for, greater future success. The NBEDC is offering grants of up to $20,000 in conjunction with matching financing and other technical assistance (business planning, resource guidance, best practices, etc.). Grant funds shall be matched with a NBEDC loan with deferred payments for three months. The minimum loan amount is $10,000, and the maximum loan amount is $200,000.
Who is Eligible?
- For-profit businesses that have a physical location and be registered within the City of New Bedford (evidenced by providing business tax return filings) and continue to suffer adverse effects of the COVID-19 pandemic (must have been in business by January 1, 2020).
- For-profit businesses that have been in operation for two years and located in New Bedford evidenced by providing business licenses.
Businesses that are chains or franchises are not eligible to apply to this program. Businesses including liquor and tobacco stores, pawn shops, adult entertainment establishments, passive real estate investments, or businesses that do not meet all local, state, and federal laws and restrictions are also ineligible.
This is a fantastic opportunity to learn more about these initiatives and how they can benefit your business or startup. Network with fellow entrepreneurs and gain valuable insights to help your venture thrive. Light snacks and refreshments will be served. Don't miss out on this informative session!
Event Venue & Nearby Stays
Groundwork New Bedford, 1213 Purchase Street, New Bedford, United States
USD 0.00
