In a move to bolster small businesses in Cambridge, a New Lease Rent Relief Grant has been announced, offering up to $25,000 in aid to help cover first-year commercial rent costs. This initiative, rooted in the pandemic's economic aftermath, is fueled by funds from the American Rescue Plan Act (ARPA).

Cambridge's latest effort aims squarely at local, non-chain businesses that employ 50 or less individuals and are either taking root or expanding within the city's commercial districts. To be eligible, these businesses must have a new multi-year lease inked on or after January 1, 2023. The city is accepting applications starting Friday, May 17, 2024, with a deadline for the first round of applications set for June 17, 2024, at 7 p.m.

Assistance navigating the application process is readily available, signaling the city's commitment to accessibility and support for small business owners. Queries can be directed to [email protected], and appointments for discussing the New Lease Rent Relief Grant can be scheduled through an online portal.

The City of Cambridge spotlights detailed information about the grant, including a comprehensive guide, tips, and answers to frequently asked questions on their website. The goal is to provide substantial relief to the lifeblood of the local economy—its small businesses—as they strive to rebound and thrive post-pandemic.