Small business grants approved in FY2021 budget

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BOSTON (WWLP) – This week, state senators passed a $46 billion state budget for the next fiscal year.

More than $17 million was approved to help companies with 50 employees or less, but the legislature’s small business package was actually lower than the one proposed by Governor Charlie Baker.

Back in early October, Baker set aside, $35 million for small businesses, offering more funding to underserved communities and businesses owned by women, veterans, and minorities. 

During budget negotiations in both the House and Senate, lawmakers chipped away at some of that funding ending up with 17 and a half million in small business relief.

“What we can do as lawmakers like we did in the budget last night is create a lot of different programs, a lot of different grants in the interim that small businesses can apply for to sustain them to get them through this time period,”

What lawmakers hope to do by cutting some of the funding from the budget is pass seperate stand-alone bills. 

The committee on revenue and the economic development committee are currently considering separate plans that would provide relief to small businesses.

Lawmakers are really hoping to see more funding from Washington to help get it all done.

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