Information

Small Business Loan/Grant Assistance Program

The Fall River Redevelopment Authority administers the City’s CDBG, Year 45-FY 20 Economic Development program. In response to the COVID-19 Emergency, the Authority authorized the Small Business Loan/Grant Assistance Program on behalf of the City on April 1, 2020.  The program has allocated $200,000 of CDBG funds and $100,000 of RDA general funds.

Eligibility Requirements
Eligible for-profit Fall River companies that have been in business for more than 2 years and that have 10 or fewer employees may apply for up to 3 months of operational fixed costs, not to exceed $10,000 for working capital.  If you do not meet these requirements but are located in the South Main Street Corridor (see map below), you may still qualify for a TDI grant. If so, we encourage you to apply.

TDI District, South Main Street Corridor
In addition, Mass Development’s Transformative Development Initiative (TDI) has made $65,000 in grant funding available, with $20,000 of additional funding from the Authority and additional funding from the MA Executive Office of Housing and Economic Development to support businesses and non-profit cultural institutions located within the TDI District City’s South Main Street Corridor.  It is called the TDI Stabilization Grant. The One Southcoast Chamber of Commerce will administer the program, while the RDA will serve as the central portal for both the City’s and TDI’s programs.

NOTICE:

SMALL BUSINESS LOAN/GRANT ASSISTANCE PROGRAM EFFECTIVE MONDAY, MAY 4th AT 9 AM, THE SMALL BUSINESS LOAN PROGRAM WILL BE SUSPENDED DUE TO THE LARGE NUMBER OF APPLICATIONS ALREADY RECEIVED AND TO BE PROCESSED.

MASS DEVELOPMENT TDI LOAN PROGRAM EFFECTIVE TUESDAY, MAY 5TH at 5 PM, THE TDI PROGRAM WILL BE CLOSED.

COMPLETED APPLICATIONS IN THE PIPELINE WILL CONTINUE TO BE PROCESSED.

THANK YOU.

 

PLEASE REFER TO THE GRANT INFORMATION GUIDELINES IN THE FOLLOWING DOCUMENTS

Program Guidelines for small, for-profit business in Fall River Program Guidelines for small, for-profit or non-profit cultural businesses in the TDI Downtown South Main Street Corridor and Map of Area
SBAP Program Guidelines TDI Grant Information
SBAP Employee Questionnaire TDI Map
SBAP Duplication of Benefits Form TDI Impact Questions
Loan Application TDI Flyer
Loan Application – Electronic Signature SBAP Employee Income Certification
Loan Application – Print & Sign

 

Additional Information

We encourage all Fall River businesses to exhaust federal emergency programs as Massachusetts has been declared a Federal Disaster Area.  Applicants may apply online, receive additional disaster assistance information and download applications 

Please direct all inquiries and questions about the SBA program to the MA SBA’s District Office email.

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339.  The deadline to apply for an Economic Injury Disaster Loan is December 18, 2020.  For more information about available SBA resources and services, please visit coronavirus-covid-19

 

 

 

 

 

Contact

1 Government Center
Fall River, MA 02722
sbap@fallriverma.org