Small Business Assistance Program for COVID-19

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).

Income Limits

  • $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.

We are working hard to launch this program in the next few weeks. To be notified when the program is launched and applications become available, please provide your contact information and we will notify you.