Equipment Fund
[CLOSED]

The Acre neighborhood is home to an incredible variety of food businesses representing cultures from all over the world like Columbian, Laotian, Cambodian, Greek, Dominican, Chinese, and Puerto Rican to name a few. These food businesses are often immigrant-owned and operated and serve as an essential way to generate wealth, provide jobs, and preserve and celebrate the cultures that call this neighborhood home. The Acre is an incredible food destination for people looking to experience food from their own culture or enjoy food from a different one. Ensuring that these businesses have the resources needed to thrive is a key priority for the Acre Partnership and the neighborhood as a whole.

In 2023, the Lowell Transformative Development Initiative (TDI) Partnership in Lowell, Massachusetts, launched an equipment grant program aimed at bolstering the growth of small first-floor retail businesses in the Acre neighborhood. This initiative was designed to assist these businesses in purchasing new equipment and expanding their operations. Grants were distributed based on a set of qualifying criteria, benefiting eligible businesses on a rolling basis.

​

The grant targeted public-facing small businesses situated along the Upper Merrimack and Market Street corridor of the Acre Neighborhood. It offered a substantial 70% match funding, capping at $15,000, for purchasing upgraded equipment. The range of eligible equipment was broad, encompassing items like espresso machines, food mixers, furniture, front-end counters, cooler repairs, kitchen upgrades, and outdoor dining equipment.

​

Refrigeration emerged as the most sought-after equipment among local businesses, with over two-thirds of the grant recipients investing in some form of refrigeration. These upgrades proved beneficial in various ways. The 70% reimbursement enabled businesses to acquire equipment that might have been financially out of reach otherwise. Additionally, the new, more efficient equipment not only enhanced operational efficiency but also, in many instances, significantly increased cooling capacity. This led to considerable savings on utility bills for several businesses, thanks to the efficiency improvements.

​