COVID19 Business & Employee Assistance Programs
As we weather the storm of COVID19 effects together as a community, there are many programs and options being developed to provide assistance to businesses/small businesses to manage the economic effects.
As they become available we will continue to add them to this page dedicated to business options and employee assistance programs now and in the future. This is page is not all-inclusive of government and programmatic assistance available to businesses but we will do our best to provide all services we become aware of.
Massachusetts announces tax relief measures for businesses impacted by COVID-19 (June 18)
- Governor Baker announced additional administrative tax relief measures for local businesses that have been impacted by the ongoing COVID-19 outbreak, especially in the restaurant and hospitality sectors.
Small Business Resources
The SBA Paycheck Protection Program
This program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. For more information, please visit: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp. Update: As of July 1 Applications will no longer be accepted.
Mass Growth Capital Corporation offers application and translation assistance for the program https://www.empoweringsmallbusiness.org/resources/covid-19-small-business-resources
SBA approved lenders participating in the program https://www.sba.gov/document/support--paycheck-protection-program-participating-lenders and the find a lender tool https://www.sba.gov/paycheckprotection/find
Economic Injury Disaster Loan
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. More info on this and other businesses assistance programs can be found here: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
Update: SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
Agricultural Businesses Impacted by COVID-19
Agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. **At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received.
SBA Express Bridge Loans enable small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. For more info, please visit: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
SBA Debt Relief to small businesses. Under this relief, the SBA will automatically pay the principal and interest for six months beginning March 27th, 2020 for qualifying new and current holders of 7(a) loans, 504, and microloans. For more info, visit: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
Small Business Administration’s Administrator, Jovita Carranza, announced automatic deferments through December 31, 2020 for borrowers still paying back SBA loans from previous disasters. View the full press release on the SBA Newsroom page here.
SBA will be hosting virtual sessions to support small businesses
SBA Offers Disaster Assistance to Massachusetts Small Businesses Economically Impacted by the Coronavirus (COVID-19)
Please view the following Press Releases and information provided by the SBA to assist businesses during this crisis.
March 18 SBA News Release 278- English
March 18 SBA News Release 279- Spanish
SBA Fact Sheet - Economic Injury Disaster Loans
Pandemic Loan Relief Guide
LoveLiveLocal recently established the Cape Cod Resilience Fund. This fund will issue one-time grants of $500 to $2,000 to eligible Cape Cod small businesses with 1-20 full-time year-round employees to supplement day-to-day operational expenses such as rent, staff, supplies, inventory, marketing and training. Preference will be given to year-round, community minded, brick and mortar businesses located in a downtown area. The initial round of applications are expected to open in early June 2020. https://lovelivelocal.com/resilience/
Facebook is offering $100M in cash grants and ad credits to small businesses to help during this challenging time. For more info, please visit: https://www.facebook.com/business/boost/grants
The Save Small Business Fund is a grant-making initiative offering short-term relief for small employers in the United States and its territories. This program is offered by the US Chamber of Commerce Foundation and provides $5,000 grants to businesses that employ between 3 and 20 people. For more info, please visit: https://www.savesmallbusiness.com/
Essential vs Non-Essential Businesses
Always visit Mass.Gov directly for the latest information and programs.
On May 18 the Baker-Polito Administration announced a comprehensive plan to safely reopen the Massachusetts economy, get people back to work, and ease social restrictions while minimizing the health impacts of COVID-19.
Coronavirus Tax Relief for Businesses and Tax-Exempt Entities
US Chamber COVID-19 Small Business Guide
Commonwealth Kitchen Restaurant COVID-19 Resource Guide:
View & Print: SCORE Business Reopening Toolkit
Yarmouth Building Department is continuing to issue permits and conduct inspections on a limited basis. For more info, visit: https://www.yarmouth.ma.us/123/Building
Mass Growth Community Capital
is accepting applications for their FY2021 Small Business Technical Assistance Grant Program. Visit this link for more info. https://www.empoweringsmallbusiness.org/about-us/requests-proposals-quotes
**Mass Department of Unemployment Assistance will be hosting virtual town halls on applying for unemployment assistance. https://www.mass.gov/forms/massachusetts-department-of-unemployment-assistance-dua-virtual-town-halls
Pandemic Unemployment Assistance
Section 2102 of the newly signed CARES Act created a new temporary federal program called Pandemic Unemployment Assistance (PUA) that provides up to 39 weeks of unemployment benefits to individuals who are not eligible for other types of unemployment. The CARES Act also creates a new temporary federal program called Federal Pandemic Unemployment Assistance (FPUC) that provides an additional $600 weekly benefit to those eligible for PUA.
For more info, please visit: https://www.mass.gov/guides/pandemic-unemployment-assistance-benefits-guide, Translated version: https://www.mass.gov/guides/pandemic-unemployment-assistance-benefits-guide?fbclid=IwAR0gci0iEde_FUbQMV09ppMsn0Mz08c3zmI9x7jDMkWbhI6kvz58K2-mTZE#-guidebook-translations-
Mass.Gov COVID-19 Unemployment Information
Please visit the State COVID-19 Unemployment Information page informed on the latest related to Department of Unemployment Assistance (DUA) and COVID-19.