NBForward! is a small business assistance program administered by the New Bedford Economic Development Council (NBEDC). It aims to help businesses navigate the challenges of the pandemic recovery phase while preparing for future growth. The program offers grants of up to $20,000, which must be matched with an NBEDC loan ranging from $10,000 to $200,000 with deferred payments for three months. In addition to financial assistance, technical support such as business planning and resource guidance is provided.
Eligible applicants are for-profit businesses that have a physical location in New Bedford, Massachusetts, and have been in operation since at least January 1, 2020. Businesses must demonstrate continued adverse effects from the COVID-19 pandemic. Chains, franchises, liquor stores, tobacco shops, pawn shops, adult entertainment establishments, passive real estate investments, and businesses not complying with all local, state, and federal laws are ineligible.
