For-profit hospitality businesses are eligible for loans under the main Small Business First (SBF) program to fund a portion of the costs of land, building, machinery and equipment, and working capital.
Hospitality businesses are defined as a lodging facility (e.g., hotel or motel, campground, bed and breakfast, etc.) with at least five full-time equivalent employees or a restaurant or food-service operation open to the public that has been in continuous operation for at least five years and has a minimum of five full-time employees. To qualify as a small business, the business enterprise must be for-profit, located within the Commonwealth, and have no more than 100 full-time employees worldwide. The maximum loan amount is $200,000 or 50% of total eligible project costs, whichever is less.
Please click here for the program guidelines and information on how to apply for funding.