Massachusetts small business grants, loans and training funds (2026)

Massachusetts programs by what they put in your hands

• Loans you repay, with the state taking extra risk: the SSBCI Loan Participation and Loan Guarantee Programs, plus MassDevelopment’s own term loans, lines of credit and microloans ⁠¹⁠⁴.
• Equity, meaning you give up part ownership: the MassVentures Deep Tech Diversity Venture Fund ⁠²⁠¹².
• Grants with conditions: Biz-M-Power for capital costs, the Workforce Training Fund for staff training, START for SBIR Phase II companies, Catalyst for early climatetech, and STEP for export marketing ⁠⁵⁠⁸⁠¹¹⁠¹²⁠¹³.
• Free help: the Massachusetts SBDC Network ⁠¹⁴.

MassDevelopment’s Small Business Technical Assistance Grant Program sounds like a business grant, but it is not one. It pays up to $150,000 to community development corporations, CDFIs and similar nonprofits, which then advise businesses with fewer than 20 employees and no more than $2.5 million in revenue ⁠⁵. If you fit that profile, ask your local CDC whether it holds an FY27 award.

MassDevelopment’s SSBCI loans need a bank on the deal

Treasury’s list, current as of August 25, 2026, shows three Massachusetts SSBCI programs under the Executive Office of Economic Development. MassDevelopment runs the Loan Participation Program and Loan Guarantee Program, and MassVentures runs the Deep Tech Diversity Venture Fund ⁠². MassDevelopment says its SSBCI lending focuses on businesses owned by socially and economically disadvantaged individuals (SEDI) ⁠³. Treasury’s summary aims the guarantee program at early-stage businesses in Economically Distressed Areas, Gateway Cities and CDFI Investment Areas ⁠¹.

Treasury’s approved program summary describes guarantees of up to 80% of a loan, capped at $2 million, and participations of up to 50% ⁠¹. MassDevelopment’s brochure says 50% for guarantees ⁠³. Ask MassDevelopment which figure applies to your deal.

The rule that shapes every deal: a bank or credit union must also lend, with exposure equal to or greater than the SSBCI amount ⁠³. In exchange, MassDevelopment can accept a subordinate position, finance above 100% loan-to-value, cut the rate to make debt service work, or fund leasehold improvements a bank would turn down ⁠³. MassDevelopment (617-330-2000) has its main office in Boston and regional offices in Devens, Fall River, Lawrence, Springfield and Worcester ⁠³.

The third SSBCI program is equity. The Deep Tech Diversity Venture Fund invests from pre-seed to early stage in Massachusetts technology companies, typically up to $2 million in one company, with a focus on underserved founders and regions ⁠¹. MassVentures reviews applications on an ongoing basis, and its target sectors include advanced manufacturing, AI, robotics, photonics, quantum, cleantech, medical devices and biotech, often built on university or hospital research ⁠¹².

MassDevelopment’s own working capital loans

MassDevelopment also lends directly to Massachusetts-headquartered businesses, with no bank partner required. These are repayable loans, and startups are excluded from the term loan and line of credit ⁠⁴.

Owners with 20% or more equity sign personal guaranties on all three, and MassDevelopment takes a lien on business assets ⁠⁴. Microloan questions go to [email protected].

Biz-M-Power: a matching grant for very small storefront businesses

Biz-M-Power is the closest Massachusetts comes to a direct small business grant. The most recent guidelines offered up to $50,000 for acquiring, expanding, improving or leasing a facility, buying or leasing equipment, or other capital needs. Payroll, inventory, working capital, operating leases and commercial vehicles were not allowed ⁠⁷. You had to show 20% of the requested amount sitting in your business bank account at application. A $50,000 request needed $10,000 on hand, for a $60,000 project ⁠⁷.

Eligibility under those guidelines was tight ⁠⁷:

• A brick-and-mortar, public-facing location in Massachusetts.
• Fewer than 20 full-time-equivalent employees and annual revenue of $2.5 million or less.
• In business at least 3 months, and owned by a Massachusetts resident.
• At least one owner with low or moderate income under HUD’s income limits, verified from tax returns.
• Excluded: nonprofits, real estate businesses, cannabis businesses and franchises with more than one location.

On February 19, 2026, MassDevelopment announced $1,849,795 in Biz-M-Power grants to 48 businesses, ranging from $6,720 to $50,000 ⁠⁶. As of October 20, 2026, the grant page says the application deadline has passed and lists no new round ⁠⁵. The last guidelines used a single online window of about five weeks, May 12 to June 15, 2025, so gather your documents before the next one opens ⁠⁷.

Training grants from the Workforce Training Fund

The Workforce Training Fund Program, administered by Commonwealth Corporation for the Executive Office of Labor and Workforce Development, pays training grants to Massachusetts employers. Only employers that pay into the state’s Workforce Training Fund qualify ⁠⁸⁠⁹. The money reimburses training costs, not general expenses.

The Express Program is built for small firms. You need 100 or fewer Massachusetts W-2 employees and a physical office, shop or warehouse in the state. Grants reimburse up to 100% of an approved course, capped at $15,000 per company per calendar year, $300 per instructional hour and $3,000 per employee per course ⁠⁸. Since April 1, 2026, firms with 51 to 100 employees also get the 100% rate (it was 50%), and an employer can hold Express and General grants at the same time ⁠¹⁰. Contractors and temps cannot be trainees, and employees must get their regular pay during training ⁠⁸.

The General Program funds larger custom training plans for employers of any size: $10,000 to $200,000 per grant, completed within two years. You must match it dollar for dollar, and wages paid during training count toward the match ⁠⁹. Applications are rolling, subject to funds, and decisions generally come within 60 days. After a General grant closes, you wait one year before applying again ⁠⁹.

MassVentures grants for SBIR winners and climatetech founders

The SBIR Targeted Technologies (START) Program gives Massachusetts companies that hold a federal SBIR Phase II award a staged grant: 16 Round 1 grants of $100,000, then 7 Round 2 grants of $200,000 for the strongest Round 1 companies from the previous year. A Round 3 offers up to $500,000 in seed capital to 3 of the most successful Round 2 companies ⁠¹¹. Since 2012, START has granted $46.2 million to 157 companies ⁠¹¹. The 2026 cycle is over and applications reopen February 1, 2027 ⁠¹¹. This is Massachusetts’s SBIR matching program. It does not help with a first SBIR proposal, but the MassSBDC SBIR Program does that for free ⁠¹⁴.

MassVentures and MassCEC also run Catalyst, with grants of up to $75,000 for early-stage climatetech companies and researchers at technology readiness levels 2 to 4, and up to 15 awards per cohort. Applications open twice a year, in August and January ⁠¹². THRiVE in Mass ($10,000 awards to non-U.S. STEM founders through Massachusetts universities) is not accepting applications ⁠¹².

STEP export grants through the Massachusetts Export Center

The Massachusetts Office of International Trade and Investment runs STEP with the MassSBDC Network and the Massachusetts Export Center ⁠¹³. The 2026-27 round reimburses up to $20,000 per business for international business development during the grant period of June 30, 2026 to July 31, 2027. Eligible costs include overseas trade show exhibits, U.S. Commerce Department services such as Gold Key, export-market marketing design and website localization. Domestic shows, travel and staff costs are not eligible ⁠¹³. Firms new to STEP put in at least 10%, and returning firms at least 20%. Your products or services must have at least 51% U.S. content, and the business must meet SBA small business size standards ⁠¹³. Applications closed October 9, 2026 at 5:00 p.m. ET ⁠¹³. You pay first and are reimbursed against paid invoices.

Boston’s ReStore storefront grants

The largest verified local program is the City of Boston’s ReStore. It reimburses 50% to 90% of signage costs (up to $8,000) and facade renovations (up to $200,000) for for-profit storefront businesses ⁠¹⁵. You need at least 3 years left on your lease, the landlord’s permission, funds for your share, and no unpaid city bills. Most grants go to low- and moderate-income areas ⁠¹⁵. The owner pays the contractor first, and the city reimburses in about 3 to 6 weeks. Application deadlines are February 1, April 1, May 15, September 1 and November 1. Contact [email protected] or 617-635-0355 ⁠¹⁵.

Financing a Massachusetts business, step by step

1. Book a free MassSBDC appointment

   Submit a Request for Advising to the regional office for your area: Berkshire (Pittsfield), Central (Clark University, Worcester), Greater Boston (Newton), Northeast (Salem State), Southeast (SE Massachusetts, Cape Cod and the Islands) or Western (Springfield) ⁠¹⁴. Bring two years of tax returns, current financials or projections, and the amount and use of the money.

2. Get a bank to the table before calling MassDevelopment

   The SSBCI programs only work alongside a private loan at least as large as the state’s share ⁠³. Ask your bank or credit union for a term sheet, then call MassDevelopment at 617-330-2000 to see whether a participation or guarantee closes the gap.

3. Use a MassDevelopment microloan or term loan if no bank will lend

   Have a credit score of 575 or higher and 12 months of operations for a microloan; the term loan and line of credit exclude startups ⁠⁴.

4. Apply for an Express grant before the course starts

   Gather a Certificate of Good Standing, a DUA Certificate of Compliance and a W-9. Pick a course, apply online, and wait for your Express Service Agreement start date (21 days after you apply). Training that starts earlier is not reimbursed ⁠⁸. Submit the reimbursement form, trainee list, provider invoice and proof of payment afterward.

5. Prepare a Biz-M-Power file for the next round

   Keep 20% of the planned request in your business account. Collect contractor quotes, your lease or mortgage statement, your latest federal business and personal tax returns, a W-9 and photo ID, and check your household income against HUD limits ⁠⁷.

6. Mark the fixed dates

   START opens February 1, 2027 for SBIR Phase II companies ⁠¹¹. Boston ReStore’s next deadline is November 1 ⁠¹⁵. Watch the Export Center page for the 2027-28 STEP round, and plan to send the Request for Advising before applying ⁠¹³.

7. If you are turned down, ask why and reapply

   SSBCI decisions follow the bank’s credit decision, so another lender may approve a deal MassDevelopment can then join. Biz-M-Power and STEP are competitive rounds. Fix the gap (missing documents, ineligible costs, a missing match) and apply in the next round.

Compare Massachusetts with other states on the small business grants hub.