City of Somerville New Small Business Vitality Grant Program

The City of Somerville’s New Small Business Vitality Grant is designed to provide crucial rental support for physical storefronts, offering up to 12 months of assistance ranging from $10,000 to $100,000, with a maximum of $50,000 in direct rental support covering both past and future rent expenses. This grant program, with a deadline of May 15, 2024, aims to bolster the economic stability and growth of small businesses within Somerville, Massachusetts. The overall mission alignment of this grant is to foster a vibrant local economy, support business longevity, and promote equitable development within the city. The primary beneficiaries of this grant are small, physical storefront businesses located in Somerville, Massachusetts, that have opened a new storefront on or after January 2023, or are intending to open in 2024. The program specifically targets businesses with fewer than 20 full-time employees and those operating in 5 or fewer locations, excluding franchises. The impact goals are to prevent business displacement, encourage new business growth, and support diverse ownership groups, ultimately contributing to a more resilient and inclusive local economy. During the review process, priority points are given to businesses that have not previously received City or State funding, those displaced due to "act of God" events or extreme rental increases since April 2020, and businesses that are immigrant-owned, women-owned, BIPOC-owned, veteran-owned, LGBTQIA-owned, or disability-owned. Additional priority is given to businesses within a Qualified Census Tract, those with fewer than 5 full-time employees, and Somerville resident-owned businesses. These priorities reflect a strategic focus on equity, supporting underserved communities, and addressing the challenges faced by truly small, local enterprises. Expected outcomes include a reduction in storefront vacancies, increased stability for new and vulnerable small businesses, and a more diverse landscape of business ownership in Somerville. Measurable results will likely involve tracking the number of businesses receiving support, their retention rates, and the demographic data of successful applicants. The City of Somerville's strategic priorities, as reflected in this grant, include fostering local economic development, promoting social equity, and building community resilience. The underlying theory of change is that by providing targeted rental assistance and prioritizing specific business types, the city can create a supportive environment where small businesses can thrive, generating local jobs and services, and contributing to the overall well-being of Somerville residents. Furthermore, the grant emphasizes local hiring, with awarded businesses agreeing to prioritize Somerville residents, especially low to moderate-income individuals, when suitable, reinforcing the community-centric approach.