Breaking News: Governor Baker Extends Capacity Limits and Other Measures

1.8.2021

 

Staff Contribution
 
In yesterday’s press conference, Governor Baker extended the 25% capacity restriction to businesses initially set in place during the holidays.
 
The restrictions will now be extended until at least January 24, as COVID-19 cases surge and hospitals battle occupancy rates.
 
Indoor and outdoor gathering limits will remain 25 people outside and 10 people inside, including for events.
 
Baker noted that “..over the next two weeks, we’ll continue to look at and evaluate the data to make further decisions.” Baker acknowledged the hardship this brings to small businesses but encouraged those that had not done so already to apply for the new round of COVID-19 specific grants available. For more information and to apply, please click here.
 
To view the updated guidance and press release, please click here.
 
For more information on the status of reopening in New Bedford and other important news, visit New Bedford’s COVID-19 page.

Governor Baker Announces $668 Million Small Business Relief Package

12.28.2020

 

Staff Contribution
 
We’re happy to share that additional financial assistance is coming for our local small businesses that have been hit hard by the pandemic.
 
Last week, the Baker-Polito administration announced a $668 million boost to the Small Business Grant Program to help several industries that have been negatively impacted by the pandemic, including:
 
-Restaurants, bars, and caterers
-Indoor recreation and entertainment establishments
-Gyms and fitness centers
-Event-support professionals (photographers, videographers, etc.)
-Personal services
-Retail
 
Grants will be offered up to $75,000, but not more than three months’ operating expenses. Funds can be used to pay rent, employee wages and benefits, utilities, and pay down debt, among other expenses.
 
The Small Business Grant Program, which was established in the fall, currently has a pool of eligible applicants awaiting funding. This additional funding will allow the Administration to award more of those pending applicants.
 
Eligible businesses that already applied to the program but were not funded due to limited funds available will be prioritized for funding first and do not need to reapply.
 
New applications for additional funding will be accepted from December 31 through January 15. Massachusetts Growth Capital Corporation (MGCC) will administer the funds and manage applications.
 
For additional details about eligibility and how to apply, click here.
 
To view Governor Baker’s full press release, please click here. As always, as information becomes available, we will be sure to share it with you.

SBA’s PPP Loan Forgiveness Tips & Hints Webinar – Tuesday, December 15 1:00PM

12.14.2020
 

Staff Contribution
 

The U.S. Small Business Administration (SBA), One SouthCoast Chamber of Commerce, and the MA Small Business Development Center (MSBDC) would like to invite you to join Daniel Martiniello, Lender Relations Specialist, MA District Office, SBA for a discussion about available loan forgiveness application forms (3508, 3508EZ, & 3508S) and the submission process and timelines.

Join in for the informational webinar to learn about:
– FTE/Wage/Salary Reductions
– Safe Harbors/Exceptions
– When borrowers should use each form and helpful hints to avoid pitfalls

Time will be saved at the end of the presentation for discussion and Q&A.

To register, please click here.

Breaking News: City of New Bedford COVID-19 Small Business Grant & Loan Program Now Available

11.3.2020

 

Staff Contribution

 

We are excited to announce a new City grant program that is aimed at assisting small businesses with the ongoing COVID-19 crisis. We encourage all eligible businesses to apply and highlights of the program are available here.
 
To get started with a full program description and application forms please click here.
 
For technical questions about the program, please contact us at lending@nbedc.org and a member of the NBEDC team will be in touch.

Main Street Small Business Grants Available — Apply Today!

10.22.2020

 

Staff Contribution

 

In addition to the state’s small business grants coming online today, the second round of the HartBeat of Main Street Grant Program is also rolling out to assist small businesses.  

 

The HartBeat of Main Street Grant Program was created to support brick-and-mortar businesses in commercial districts as they enter the next phases of reopening across the country.  

 

The program will fund solutions that help small business owners respond and adapt to the COVID-19 pandemic and also help to revitalize and strengthen older and historic downtown commercial districts. 

 

Grants of $5,000 to $15,000 will be awarded on a competitive and first-come, first-served basis. 

A minimum of 50 percent of grants will benefit diverse-owned businesses, as defined by the Small Business Administration as minority, woman, veteran, disabled, and/or LGBTQ-owned.

 

Applications will be accepted beginning today at noon. The deadline to apply is October 29, 2020 at 7:59 PM.  

 

To learn more and apply, please click here.

State Announces COVID-19 Small Business Grants — Apply Today!

10.22.2020

 

Staff Contribution

 

The Commonwealth of Massachusetts has made $50.8 million in grants available to support small businesses, microenterprises, and their employees, families, and communities.
 

Massachusetts Growth Capital Corporation (MGCC) will be administering these funds to businesses experiencing economic hardship and a loss of income due to the COVID-19 pandemic.

 Grant funding is intended to help businesses adversely impacted by the pandemic.

 
 Preference will be given to small businesses whose owners are women, minorities, veterans, members of other underrepresented groups, who are focused on serving the Gateway Cities of Massachusetts, and those most negatively impacted by COVID-19 . Preference will also be given to applicants that have not been able to receive aid from other federal programs related to COVID-19.
 
Applications will be accepted beginning today at noon. The deadline to apply is November 12, 2020 at 12:00 PM.
 
To learn more and apply, please click here.

Breaking News: SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less

10.14.2020

 

Staff Contribution

 

The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less.
 
SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020. SBA will continue to process all PPP forgiveness applications in an expeditious manner.
 
Click here to view the simpler loan forgiveness application.
Click here to view the instructions for completing the simpler loan forgiveness application.
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
 
Click here to read the full press release.

SEED: Grant Funds Available to Women-Owned Restaurants

10.7.2020

 

Staff Contribution

 

We recently received notification from our partners at SEED about new grant opportunities available for women-owned restaurants and are excited to share with you!
 
The Massachusetts Conference for Women, in partnership with the Massachusetts Restaurant Association and Chef Joanne Chang, has created a $250,000 fund to assist women-owned restaurants across Massachusetts. Fifty $5,000 grants will be presented to women-owned restaurants.
 
Business owners can apply for grant funds here by October 22nd.
 
For information on business loans, contact SEED at (508) 822-1020 or visit www.seedcorp.com.

Round 6 LISC Small Business Relief Grants

09.05.2020

 

Staff Contribution

 
The Local Initiatives Support Corporation (LISC), one of the country’s largest social enterprises supporting projects and programs to revitalize communities and bring greater economic opportunity to residents, is providing grants to small businesses to help them keep functioning and remain vital facets of their local economies at this difficult time.
 
These grants are designed to support small businesses and enterprises across the country that have been affected by COVID-19, especially those in underserved communities, including entrepreneurs of color, women-owned businesses, and veteran-owned businesses that often lack access to flexible, affordable capital.
 
Applications will be reviewed based on criteria designed to prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants.
 
The deadline for submissions is this Monday, September 7 at 11:59pm ET.
 
For more information and to apply, please click here.

ALERT: Malicious Cyber Actor Spoofing COVID-19 SBA Loan Website via Phishing Emails

08.13.2020

 

Staff Contribution

 

Summary
The Cybersecurity and Infrastructure Security Agency (CISA) is currently tracking an unknown malicious cyber actor who is spoofing the Small Business Administration (SBA) COVID-19 loan relief webpage via phishing emails. These emails include a malicious link to the spoofed SBA website that the cyber actor is using for malicious re-directs and credential stealing.

 

Technical Details
CISA analysts observed an unknown malicious cyber actor sending a phishing email to various Federal Civilian Executive Branch and state, local, tribal, and territorial government recipients. The phishing email contains:

A subject line, SBA Application – Review and Proceed

A sender, marked as disastercustomerservice@sba[.]gov

Text in the email body urging the recipient to click on a hyperlink to address: hxxps://leanproconsulting[.]com.br/gov/covid19relief/sba.gov

The domain resolves to IP address: 162.214.104[.]246

 

For more information about the attack please click here.