Acton Joins Four Towns In Forgivable Small Business Loan Program

ACTON, MA — Acton and four other towns are partnering up with The Resource, Inc. to offer forgivable loans to small businesses.

Acton was awarded $1.6 million in Community Development Block Grant - Coronavirus Funding for a Micro-enterprise Forgivable Loan Program. The program offers businesses a one-time grant of up to $10,000 to help cover costs such as rent, staffing and utilities. The grant is open to small businesses with five or fewer employees, which includes any owners and whose owner or owners meet low to moderate household income qualification as designated by United States Department of Housing and Urban Development in all five towns.

The other four towns participating are Maynard, Boxborough, Littleton and Westford.

“We are grateful to be able to use this $1.6M in CARES CDBG-CV funding to help micro-businesses in our five communities that have been impacted financially by the COVID-19 pandemic along with two other programs targeting social service providers, which will be announced in early February," Acton Town Manager Mangiaratti said. "These businesses have been significantly impacted by the pandemic over the last year, and this funding, which can be used for expenses not covered by other funding programs, will hopefully go a long way in helping our local businesses through this challenging time."

Acton is the lead town on the program. The funding came from the Coronavirus Aid, Relief, and Economic Security Act.

If businesses would like to see if they are eligible, visit www.trimicroeloans.org and choose the Acton Boxborough tab for the easy step by step pre-application questionnaire. Once submitted you will receive an email with further instructions. Pre-applications are reviewed on a first come, first served basis.