Gov. Charlie Baker and Lt. Gov. Karyn Polito toured Symmons Industries, a plumbing parts manufacturer in Braintree, on May 20 to see firsthand how a local business is implementing new workplace safety standards. Photo by Matt Stone | Boston Herald/Pool

With the pandemic taking a toll on jobs and the economy, the Baker administration plans to announce a plan to help small businesses and stabilize downtowns.

The plan features $115 million in new funding that administration officials say will be available starting Thursday to support workforce training and help small businesses hardest hit by the impacts of COVID-19. Baker is expected to further detail the plan at a press conference for noon Thursday.

An administration official said small businesses may apply now for $50.8 million in grants made available through the Massachusetts Capital Growth Corp. Businesses with 50 or fewer employees can receive up to $75,000 or up to three months of supported expenses for employee payroll and benefits costs, mortgage interest, rent, utilities and interest on other debt obligations. Businesses with five or fewer employees may access up to $25,000 to cover business costs like rent, staffing and utilities, or to purchase personal protective equipment. Further details about money available across the “Partnerships for Recovery” plan were not available Thursday morning.

The assistance will be particularly important for companies that were covered by the just-expired state eviction moratorium, which covered both apartment renters and small businesses.

The Boston Globe reported on the governor’s plans Thursday morning and said the total pool of funding – advertised by the administration as $774 million – includes a previously announced $171 million aimed at preventing widespread evictions. The plan uses funds delivered by the federal government under the CARES Act.

While talks continue in Washington about another major economic stimulus bill, there’s been no news from state House and Senate Democrats about economic development initiatives approved in both branches of the legislature, but locked up since the summer in private negotiations that have so far failed to lead to any accord or relief to Massachusetts residents and businesses.