May 15, 2020
May 15, 2020
May 12, 2020
New Guidance for Fulfillment of Remote Orders By Retail Businesses
Earlier this week, the Administration provided new guidance for retail businesses. Under this guidance, non-essential businesses are allowed to bring in a small number of employees in order to remotely fulfill online or phone orders, provided they can meet safety protocols.
Read the full guidance in the COVID-19 Essential Services FAQs.
Department of Unemployment Assistance Resource
DUA has recently released FAQs to guide employers and employees in returning to work:
These FAQs provide responses to some of the questions that employers and employees may have when looking ahead to reopening.
U.S. Department of Commerce EDA Funding: Economic Adjustment Assistance Program
The U.S. Department of Commerce’s Economic Development Administration announced the availability of $1.5B in funding through an Economic Adjustment Assistance program.
This funding will support communities in economic recovery through planning and technical assistance grants, grants for recovery and resilience strategies, capitalizing or recapitalizing revolving loan funds, and innovation grants.
Non-profits working in partnership with local government, cities and towns, regional planning agencies, and others can apply for this support.
May 4, 2020
If you own a small business in Massachusetts, you can benefit from this opportunity.
New Bedford businesses this means you!
The Empowerment Grant for Small Businesses serves as a funding opportunity to support the needs of Massachusetts small businesses amid the COVID-19 outbreak in the spring of 2020. Grants will be focused on small business owners serving Massachusetts Gateway Cities.
Applicants can request up to $2,500 for needs related to continuing operation during and/or after the COVID-19 outbreak. Applications will be open until May 29th so don’t hesitate to apply!
Eligible applicants must be:
Should you have any questions, please email us at Empowerment@tre.state.ma.us .
Your Friends at the Office of Economic Empowerment
The SBA Economic Injury Disaster Loan (EIDL) Program has begun funding advances up to $10,000 ($1,000 per employee) on applications that were submitted at the end of March/early April. Please note, this is NOT the Payroll Protection Program.
There is a 2-3 week delay in processing, and businesses may not receive notification by phone or email that an advance has been approved.
Please check your business bank account to see if the advance has been deposited without notification!
Businesses can also call the SBA Office of Disaster Assistance Customer Service Center number (800) 659-2955 or email: email@example.com for a status of applications.
We will continue to provide updated information as it becomes available.
The Baker-Polito Administration announced yesterday that Massachusetts residents who are not eligible for regular unemployment benefits can now apply online for the new Pandemic Unemployment Assistance (PUA) program.
The new federal PUA program provides up to 39 weeks of unemployment benefits to individuals who are unable to work because of a COVID-19-related reason but are not eligible for regular or extended unemployment benefits.
This includes self-employed workers, independent contractors, gig economy workers such as artists, and those with limited work history.
Applicants can learn more and apply at www.mass.gov/pua.
Read full press release here.
Yesterday we sent a note regarding the recently passed CARES Act. This new federal law provides additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL).
This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
We have just been informed by the SBA that if you wish to apply for the Advance on your EIDL, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application.
Applying for the Advance will not impact the status or slow your existing application.
Again, as new information becomes available on this and other COVID:19 rescue programs, we will pass it along and ask you to share with your contacts.
BOSTON — Today, the Baker-Polito Administration announced economic support for small businesses with a $10 million loan fund to provide financial relief to those that have been affected by COVID-19.
The $10 million Small Business Recovery Loan Fund will provide emergency capital up to $75,000 to Massachusetts-based businesses impacted by COVID-19 with under 50 full- and part-time employees, including nonprofits. Loans are immediately available to eligible businesses with no payments due for the first 6 months. Massachusetts Growth Capital Corporation (MGCC) has capitalized the fund and will administer it.
“As our administration continues to take steps to protect the health and safety of residents, we recognize the hardships facing the small businesses that create the foundation of the state’s economy,” said Governor Charlie Baker. “This recovery loan fund is a new resource to help small businesses address emergency needs due to the disruption caused by the ongoing COVID-19 pandemic.”
“Small business owners and their employees are our neighbors and our friends, and their enterprises play vital roles in our communities, and we are committed to helping them cope with the impacts of COVID-19,” said Lt. Governor Karyn Polito. “As we announce this small business recovery loan fund, we will continue to work with the Legislature and our federal partners to find ways to effectively provide assistance during this public health emergency.”
“Our office remains in regular contact with the state’s business community to provide updates and receive feedback as the administration continues to expand its comprehensive COVID-19 response,” said Housing and Economic Development Secretary Mike Kennealy. “These new recovery loans complement other resources like the state WorkShare program and federal Economic Injury Disaster Loan program, as well as legislative efforts by the administration to support impacted workers.”
“MGCC is committed to helping support the Commonwealth’s small businesses through this time,” said Lawrence Andrews, President and CEO of MGCC. “We are proud to offer this fund as it serves our mission to save jobs and promote economic development. All processing and funding will take place online through MGCC staff.”
How to Apply:
Please complete the application found on MGCC’s website, EmpoweringSmallBusiness.org.
Completed applications can be sent via email to firstname.lastname@example.org with the subject line “2020 Small Business Recovery Loan Fund”.
MGCC can be reached by email: email@example.com
Loan Fund Details:
About Massachusetts Growth Capital Corporation:
MGCC is a quasi-public corporation of the Commonwealth that saves and creates jobs at small businesses, often minority and women-owned businesses, by providing financial services and managerial assistance. MGCC also promotes economic development throughout the state, focusing on Gateway Cities and low- to moderate-income communities. MGCC works with traditional financial institutions to make challenging loans bankable, working with community development corporations and other non-profits to provide financing for job-producing projects, and assisting a wide range of small businesses to find the growth capital they require. Since 2010, MGCC has served over 7,400 small businesses, and positively impacted more than 19,200 jobs with customized working capital financing commitments totaling over $122,000,000. For more information, visit EmpoweringSmallBusiness.org.
Original story here: