BREAKING NEWS! Small business owners, respond today to apply for federal aid; town will assist with application

May 26, 2020 by

Posted: Tuesday, May 26, 2020 at 12 p.m.

Indicate your interest to the Town Planner in this potential funding opportunity

NORTH READING — The town of North Reading is working with surrounding towns and our regional planning agency to apply for financial relief for small businesses, through HUD. 

This program would provide up to $10,000 in financial assistance to microenterprises or businesses with five or fewer employees, one of whom owns the business. 

If your business falls into this category and your own household is low or moderate income, please contact Town Planner Danielle McKnight (dmcknight@northreadingma.gov), indicating your interest in the program. 

If we are successful, funds could be used for cover business costs, such as rent, staffing, and utilities. (It won’t cover major equipment purchases, real estate purchase or construction.)

“You do not need to share your financial information at this time – simply identify whether you meet the criteria to the best of your knowledge. We must gather the information today, May 26, and submit it tomorrow – please contact us by noon tomorrow, May 27. We will be in touch as soon as we hear about the status of the funding,” McKnight stated.

How to determine if your household is low or moderate income?

If your household earns the following amount, or less, based on your tax returns, you qualify to apply:

For a family of 8: $127,050

For a family of 7: $119,350

For a family of 6: $111,650

For a family of 5: $103,950

For a family of 4: $96,250

For a family of 3: $86,650

For a family of 2: $77,000

For a family of 1: $67,400

Further information may be found by clicking here.

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