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Biz-M-Power 2023 Annual Report

Biz-M-Power 2023 Annual Report

Massachusetts Growth Capital Corporation's Biz-M-Power program is empowering small business across Massachusetts.

The Biz-M-Power crowdfunding matching grant program offers small businesses in Massachusetts financial assistance with their acquisition, expansion, improvement or lease of a facility, purchase or capital lease of equipment, or with meeting other capital needs for the business.

Eligible applicants are empowered to advance their business with an innovative approach to obtaining capital. Through crowdfunding campaigns, these businesses connect with their local residents and stakeholders to advance projects that support economic success and transformation for their business and in their communities.

Small businesses that receive approval from Massachusetts Growth Capital Corportation (MGCC) launch a crowdfunding campaign to support the specific needs of their business. Small businesses that reach their goal by rallying support from their community receive a matching grant award from MGCC. MGCC has awarded matching grants to small businesses ranging from $1,500 to $40,000 over the lifetime of the program.

“The result of our campaign is that we were able to get into a major grocery chain in this region. The goal was to bring GoodieKrunch closer to our customers. This program really helped us to achieve that goal.” – HamdAllah Olona, GoodieKrunch

This program’s funding of $7,500,000 was appropriated by the Commonwealth’s FY2021 Operating Budget. The Biz-M-Power program has made a significant and meaningful difference in businesses and communities throughout the Commonwealth.

A woman of color with black hair smiles next to her open business sign.

Read more about the program and its lasting impact on Massachusetts small business in the 2023 Annual Report.

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