Small Business Assistance
Massachusetts Launched $10 Million recovery loan fund for small businesses
This fund will offer loans to small businesses affected by the coronavirus. The fund will offer eligible small businesses up to $75,000 with no payments for the first six months. The Massachusetts Growth Capital Corporation will oversee this fund and administer loans to small applicants under 50-full-time and part-time employees, including nonprofits. Send completed applications to MGCC@massGCC.com with the subject line “2020 Small Business Recovery Loan Fund"
MEMA’s Emergency Operations Center’s Private Sector Hotline
The hotline will be staffed Monday – Friday from 8am to 4pm. The number for the hotline is 508-820-2094.
Small Business Administration’s Economic Injury Disaster Loan (EIDL) program
- EIDL offers Massachusetts businesses who are experiencing hardships resulting from the COVID-19 outbreak access up to $2M in emergency loan capital with rates capped at 3.75%
- MEMA is currently working with the U.S. Small Business Administration (SBA) to activate the EIDL program. Businesses can learn more about the SBA’s response to COVID-19 here
The Executive Office of Labor and Workforce Development offers resources for businesses related to employee benefits and will post additional guidance as it becomes available.
- Updated information regarding unemployment resources can be found here
- The WorkShare program, a tool to help employers avoid layoffs during a downturn – read more about WorkShare
- The Rapid Response program, which works closely with companies to avert layoffs and keep a skilled workforce engaged in the existing regional economy or industry; read more about how the Rapid Response Team can help businesses
- For more information on the Outbreak of COVID-19 in Massachusetts
- COVID-19 Guide for Businesses and Employers
- Retailers Association of Massachusetts
- Federal Economic Injury Disaster Loan Program
- National Retail Federation
- MetroWest Emergency Relief Fund
- United Way of Tri-County
- Boston Area Service Workers Fund
- Boston Resiliency Fund
- Boston Artist Fund
- The Boston Globe/Boston Helps Page