The Community Development Partnership announced they have been awarded $112,800 from the Massachusetts Growth Capital Corporation (MGCC) to support their small business technical assistance program, and $59,328 from the Division of Banks for their First Time Home Buyer program.
Earlier this month, MGCC announced it would provide $30 million in funding to support the growth and recovery of small businesses across the Commonwealth. Forty-five non-profit organization were awarded a total of $4 million for small business technical assistance, of which the CDP received $112,800. In 2020, the CDP provided over 500 hours of one-on-one assistance to 125 businesses.
“The combination of technical assistance and access to capital is critical to supporting businesses along their path to growth and is also a key part of our strategy for economic recovery,” said Lt. Governor Karyn Polito.
The CDP also received $59,328 for their First Time Home Buyer program from the Division of Banks. This program provides prospective home owners with the skills and knowledge they need to purchase their first home. Upon completion, participants are eligible for discounted mortgage products. Last year, 118 potential homeowners graduated from the CDP’s online First Time Home Buyer program.
“These additional resources will allow us to expand our efforts to aid small businesses in recovering from the Pandemic induced economic crisis” said Jay Coburn, president and CEO of the Community Development Partnership. “We are in the process of searching for a new member of our team who will help us do more outreach to minority and immigrant owned businesses on the Lower Cape.”
The Community Development Partnership leads the Lower Cape in building a diverse year-round community of people who can afford to live, work and thrive here. To accomplish their mission, the organization promotes, develops and manages affordable housing; nurtures the launch and growth of small businesses; and facilitates collaboration with business, non-profit and government partners.
To find out more information about this organization, go to www.capecdp.org.