The City of Malden, in collaboration with the Malden Redevelopment Authority, is creating a small business assistance program to assist small businesses with low- and moderate-income business owners that are struggling due to the COVID-19 crisis. The first round of assistance is geared toward businesses with five or fewer full-time employees, but future rounds may have different criteria.
Low- and moderate-income households are those earning no more than 80% of the Area Median Income. The income limit is based on the number of people in your household (including roommates and children).
$62,450 for a household of 1 person.
$71,400 for a household of 2 people.
$80,300 for a household of 3 people.
$89,200 for a household of 4 people.
$96,350 for a household of 5 people.
$103,500 for a household of 6 people.
$110,650 for a household of 7 people.
$117,750 for a household of 8 people.
Applicants must meet other criteria as well. Eligibility does not guarantee that your application will be accepted or that funding will be available.