Massachusetts Small Business Development Center Network

 

COVID-19 - What you need to know as a small business

  

ASBDC Keep CalmWE ARE OPEN FOR BUSINESS helping businesses cope with the economic consequences of the coronavirus. We are committed to supporting entrepreneurs during these very challenging times.

Although Massachusetts SBDC business advisor are working remotely, we are meeting virtually with clients. Experienced MSBDC business advisors can assist businesses with disaster loan applications. If you are not a client and would like to receive services, please complete our Request for Counseling form available on our website at www.msbdc.org/rfc. We offer online registration for business advisory services.
 

free webinarsVisit our archived COVID-19 webinar page at www.msbdc.org/covid-19/webinars.  For upcoming live webinars, visit our training page at www.msbdc.org/training.  Check back often as we add new webinars.

 


Massachusetts businesses are eligible to apply for SBA low-interest federal disaster loans for working capital to small businesses impacted by the Coronavirus. Click here to learn more and apply for SBA's disaster loan. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Call early, waiting times can be upwards of one hour at peak times. 

Below are some useful links, resources and articles about what small businesses need to know about the COVID-19 pandemic. Be sure to get information from reliable sources, such as the organizations below. Additional articles on COVID-19 are listed at our "In the News" page.
 


 


SBAThe U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to Massachusetts small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Charles D. Baker on March 17, 2020. Click here for details in English or Spanish. Visit SBA's website for additional details by clicking here.

Coronavirus (COVID-19): SBA's Small Business Guidance & Loan Resources - Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.

SBA knows that you are facing challenging times in this current health crisis and is committed to help bring relief to small businesses and nonprofit organizations suffering because of the Coronavirus (COVID-19) pandemic. On March 27, 2020, President Trump signed into law the CARES Act, which provided 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. 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.

  

If I am applying or already received an SBA Economic Injury Disaster Loan, is my small business eligible to participate in the Paycheck Protection Program? For details in multiple languages, click here.

  • Borrowers can apply for BOTH an Economic Injury Disaster Loan and the Paycheck Protection Program loan.
  • However, the Paycheck Protection Program loan funds and the Economic Injury Disaster Loan funds cannot be used for the same purpose. 
  • The Paycheck Protection Program loan must be used for payroll (minimum of 75% of the funds received) for it to be eligible for a forgivable loan and the remaining 25% is used for different purposes (mortgage interest, rent, utilities, other services).
  • Borrowers who accept both loan funds should document the uses of the funds appropriately.
  • If your Economic Injury Disaster Loan was used for payroll costs, your Paycheck Protection Program loan must be used to refinance your Economic Injury Disaster Loan. 
  • Any advance up to $10,000 on the Economic Injury Disaster Loan will be deducted from the loan forgiveness amount of the Paycheck Protection Program loan. 
  • For example, a borrower may obtain a loan from the Paycheck Protection Program and use those funds to pay for 8 weeks of payroll or employee retention. They may wish to then dedicate their entire EIDL funds towards working capital, notes payable and accounts payable that do not duplicate the funds provided through the Paycheck Protection Program. If the EIDL loan was used for payroll expenses, the borrower must refinance the EIDL loan with the PPP loan which carries a lower interest rate as well as a shorter maturity period.
  • If you are applying for both, you can accept PPP first – then decide whether or not to close on your EIDL approved loan. 
  • The application period for PPP loans runs through June 30, 2020, but the EIDL application period runs through December 2020.
  • EIDL Loan advances will start to be distributed this week. $1000 per employee up to $10,000 max
  • EIDL Loans - IF YOU DID NOT APPLY THROUGH THE STREAMLINED PROCESS WHICH STARTED LAST WEEK, SBA request that you visit https://covid19relief.sba.gov/#/ and reapply with the secure streamlined process. You will not lose your place in queue with your original EIDL loan application.
  • EIDL loans will not require a personal guarantee for loans under $200,000.
  • EIDL loans will not require real estate collateral for loans under $500,000. SBA will be looking be best available lien priority on all business assets or other business assets.

Please direct all inquiries and questions to the SBA District Office email at MassachusettsDO@sba.gov.

*Updated on 4/14/20 - Guidance for Self-Employed, 1099ers & Independent Contractors. SBA released guidance "Interim Final Rule - Additional Eligibility Criteria and Requirements for Certain Pledges of Loans Applicable Affiliation Rules" highlighting frequently asked questions for PPP loan applicants who are Individuals with Self-Employment Income who File a Form 1040, Schedule C.

The SBA has processed more than 14 years’ worth of loans in less than 14 days. The Paycheck Protection Program is saving millions of jobs and helping America’s small businesses make it through this challenging time. The EIDL program is also providing much-needed relief to sustain businesses and their employees. • By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations. • SBA and Treasury urge Congress to appropriate additional funds for the Paycheck Protection Program—a critical and overwhelmingly bipartisan program—at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks.

Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin on the Resumption of the Paycheck Protection Program. The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 from approved lenders on behalf of any eligible borrower.

Update May 4, 2020 - SBA to Make Economic Injury Disaster Loans Available to U.S. Agricultural Businesses Impacted by COVID-19 Pandemic. U.S. Small Business Administration Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs.

Update May 5, 2020 - Important Update!!  If you entered an application for EIDL (Economic Injury Disaster Loan) and have a confirmation number starting with a “2", you probably used an older application version. If you have not already done so, please go back into the SBA application and use the streamlined version (link below) to receive a confirmation number the starts with a “3” (even though it says “agricultural” on the application still re-apply). To resubmit your information, go to https://covid19relief.sba.gov/#/. SBA will match your two applications and keep your application in the queue. Please contact the local MSBDC office to make an appointment with your advisor, or be assigned to an advisor, to help you with the streamlined application.

Update May 5, 2020 - SBA and the Treasury have released additional information regarding the Paycheck Protection Program (PPP).

Coronavirus Recovery Information in Other Languages - SBA is providing materials in languages other than English to help business owners recover. Click here.

Update May 13, 2020 Requirements for Loan Increases for Partnerships or Seasonal Employers

Update May 14, 2020 - Eligibility of Certain Electric Cooperatives

Update May 26, 2020 - SBA and Treasury release Paycheck Protection Program Loan Forgiveness Application.

Update June 1, 2020 - Paycheck Protection Program (PPP) Lending Update

Update June 8, 2020 - Joint Statement by Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza Regarding Enactment of the Paycheck Protection Program Flexibility Act

Update June 15, 2020 - SBA’s Economic Injury Disaster Loans and Advance Program Reopened

Update June 18, 2020 - Last Chance to Apply for Paycheck Protection Program Funds: June 30 Deadline! Time is running out to apply for a Paycheck Protection Program (PPP) loan to help your small business through the COVID-19 crisis. There is still more than $120 billion available and the June 30 deadline to apply is fast approaching! Click here for details.

ASBDCAmerica’s SBDCs are working to help small businesses address the business challenges of the coronavirus disease (COVID-19) pandemic. On this page, they have gathered information and resources to help small businesses plan for and respond to the pandemic.

America’s SBDC starts new federal resource for small business - click here to be redirected.

Small Business Resiliency - An actionable business resiliency plan could mean difference between business continuity and closure. Useful documents from America's SBDC:

Coronavirus.gov has general information about the virus and is a collaboration of the White House, CDC and the U.S. Department of Health and Human Services.
Associated Industries of Massachusetts (AIM) - Visit AIM's resource page for employers . Also, AIM's has a blog on COVID-19 news and updates - click here.

AIM to Match Makers and Sellers of Protective Equipment with Companies that Need It. Supply protective equipment to fellow members as they re-open their facilities - click here for details.

COVID-19 Response Command Center Massachusetts Emergency Management Agency (MEMA) - The Command Center, under the leadership of Secretary Sudders and reporting to Governor Baker and Lt. Governor Karyn Polito, will be the Commonwealth’s single point of strategic decision making and coordination for the Administration’s comprehensive COVID-19 response. You can find the COVID-19 reports from MEMA in the State Library archives by clicking here.

Helpful hints from the Massachusetts Small Business Development Center's Southeast Regional Office to prepare for recovery from the COVID-19.
Occupational Safety and Health Administration (OSHA) has a page dedicated to COVID-19. Click here to view the OSHA Coronavirus Guide for Businesses.

Foley & Foley PC, a law firm in Falmouth, has created several useful documents that are helpful during this COVID-19 crisis, including details for businesses on the eligibility, leave and pay obligations under the new Families First Coronavirus Response Act (FFCRA).

- Chart for Families First Coronavirus Response Act (FFCRA)
- What you need to know and do: FFCRA
- Families First Coronavirus Response Act Compliance Package

Nixon Peabody of Boston have information on "How small businesses can access funding under the Small Business Administration’s Disaster Loans Program in response to COVID-19". Click here for the article. They have a response team dedicated to the coronavirus.
Puerto Rico SBDC has graciously shared some free webinars (presented in Spanish).

- 3/23/2020: Aspectos Laborales ante el COVID-19  (Knowing Your Employer Responsibilities during COVID-19) https://bit.ly/33HoSTO
- 3/24/2020: Manejo del  Cash Flow en Momentos de Crisis (Management of Business Cash Flow during Times of Uncertainty)  https://bit.ly/2J5e2xe
- 3/25/2020: Préstamos de Desastre del SBA ante el COVID-19 (SBA Economic Injury Disaster Loans for COVID-19 Emergency)  https://bit.ly/2WuUYAw
- 3/26/2020: Comience su Tienda Online (Start your Online Store)  https://bit.ly/2UnV761
- 3/27/2020: Alternativas de Financiamiento ante el COVID-19 (Other Business Financing Sources for the COVID-19 Emergency)  https://bit.ly/2UpppFB

The Facebook for Business website has tips and resources to help small businesses deal with business interruptions such as the coronavirus pandemic, including:

  • Ideas for staying in touch with customers, using online resources such as email, your website and your Facebook page.
  • Hosting virtual, online events such as webinars, in place of in-person events.
  • Preparing a list of Frequently Asked Questions (FAQs) about how your business is operating during the pandemic.
  • Business Resilience Toolkit – a booklet about preparing for a business interruption, and creating a resiliency plan.
  • Small Business Resilience Quick Action Guide
  • Online courses about how to communicate with customers and provide customer support during business disruptions.

$100M in Grants for Small Businesses: $100 million in Facebook grants will support over 30,000 small businesses in over 30 countries where Facebook operates around the world. For more information, click here.

The Rapid Response program 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.
WesternMass List of Business Resources: Hampden, Hampshire, Franklin, and Berkshire Counties (updated daily) - click here.
The Internal Revenue Service (IRS) has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page will be updated as new information is available. Click here for FAQs on extension of filing and payment deadlines.

The National Cyber Security Alliance (NCSA) has created a “COVID-19 Security Resource Library” — a compilation of tips and recommendations from NCSA and its partners on ways to stay safe online, and how to avoid cyber threats and scams during the COVID-19 pandemic. To access the Library, click here.

The Massachusetts Restaurant Association or the National Restaurant Association both have information on the COVID-19 crisis.
Retailers Association of Massachusetts has the latest updates on the Coronavirus.
The Massachusetts Manufacturing Community Responds to COVID-19
City offers $10K grants to Worcester businesses amid coronavirus impact
Common Capital is offering a COVID-19 Response Fast Track Loan Program
MA Department of Unemployment Assistance hosts the Work Share program as an alternative for employers faced with a cut in workforce. Employers can divide available work among affected employees to receive a part of their unemployment insurance (UI) benefits while working reduced hours.

- Employer Unemployment FAQ: COVID-19
- Massachusetts COVID-19 unemployment information
- Important Employee and Employer Information related to COVID-19 and unemployment
Massachusetts Announces State Income Tax Filing Deadline Being Extended to July 15, 2020
U.S. Department Of Labor Publishes More Guidance for Workers and Employers Explaining Paid Sick Leave, Expanded Family and Medical Leave Benefits
To help small business owners and entrepreneurs better understand the new programs that will soon be available, the U.S. Senate Committee on Small Business & Entrepreneurship created a comprehensive guide to many of the small business provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress. These programs and initiatives are intended to assist business owners with whatever needs they have right now. Small Business Owner’s Guide to the CARES Act [final].pdf 
The U.S. Department of Labor published information on the Families First Coronavirus Response Act (FFCRA or Act) that requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. Also see, Department of Labor Outlines Small-Business Exemption from Coronavirus Paid Leave Law.
The Office of Inspector General warns businesses to beware of scams and fraud schemes
Financial Resources for Exporters

 

If I am applying or already received an SBA Economic Injury Disaster Loan, is my small business eligible to participate in the Paycheck Protection Program?

  • Borrowers can apply for BOTH an Economic Injury Disaster Loan and the Paycheck Protection Program loan.
  • However, the Paycheck Protection Program loan funds and the Economic Injury Disaster Loan funds cannot be used for the same purpose. 
  • The Paycheck Protection Program loan must be used for payroll (minimum of 75% of the funds received) for it to be eligible for a forgivable loan and the remaining 25% is used for different purposes (mortgage interest, rent, utilities, other services).
  • Borrowers who accept both loan funds should document the uses of the funds appropriately.
  • If your Economic Injury Disaster Loan was used for payroll costs, your Paycheck Protection Program loan must be used to refinance your Economic Injury Disaster Loan. 
  • Any advance up to $10,000 on the Economic Injury Disaster Loan will be deducted from the loan forgiveness amount of the Paycheck Protection Program loan. 
  • For example, a borrower may obtain a loan from the Paycheck Protection Program and use those funds to pay for 8 weeks of payroll or employee retention. They may wish to then dedicate their entire EIDL funds towards working capital, notes payable and accounts payable that do not duplicate the funds provided through the Paycheck Protection Program. If the EIDL loan was used for payroll expenses, the borrower must refinance the EIDL loan with the PPP loan which carries a lower interest rate as well as a shorter maturity period.
  • If you are applying for both, you can accept PPP first – then decide whether or not to close on your EIDL approved loan. 
  • The application period for PPP loans runs through June 30, 2020, but the EIDL application period runs through December 2020.
  • EIDL Loan advances will start to be distributed this week.  $1000 per employee up to $10,000 max
  • EIDL Loans - IF YOU DID NOT APPLY THROUGH THE STREAMLINED PROCESS WHICH STARTED LAST WEEK, SBA request that you visit https://covid19relief.sba.gov/#/ and reapply with the secure streamlined process. You will not lose your place in queue with your original EIDL loan application.
  • EIDL loans will not require a personal guarantee for loans under $200,000.
  • EIDL loans will not require real estate collateral for loans under $500,000. SBA will be looking be best available lien priority on all business assets or other business assets.

Please direct all inquiries and questions to the SBA District Office email at MassachusettsDO@sba.gov.

The Need for Appropriate Medical Equipment and Personal Protective Equipment (PPE) is Tremendous - How Your Company Can Help

  • To sell medical supplies or equipment to the federal government, please submit a price quote under the COVID-19 PPE and Medical Supplies Request for Quotation. Full details can be found in the solicitation here. This solicitation requires registration with the System for Award Management (SAM) in order to be considered for award, pursuant to applicable regulations and guidelines.  Registration information can be found at www.sam.gov  Registration must be “ACTIVE” at the time of award.
  • If you have medical supplies or equipment to donate, please provide FEMA details on what you are offering.
  • If you are a private company that wants to produce a product related to the COVID response – email nbeoc@max.gov.
  • If you are a hospital or healthcare provider in need of medical supplies, please contact your state, local, tribal or territory department of public health and/or emergency management agency.
  • If you are interested in doing business with FEMA and supporting the response to COVID- 19 with your company’s non-medical goods and/or services, please submit your inquiry to the Department of Homeland Security (DHS) Procurement Action Innovative Response Team (PAIR) team at DHSIndustryLiaison@hq.dhs.gov. Details on the above can also be found at FEMA’s how to help.

Federal Government Responses to COVID-19

EXIM Board Takes United Action in Response to COVID-19 to Support U.S. Exporters and Jobs with Unprecedented Financing Flexibility

To bolster American businesses and workers and their families in response to the COVID-19 global pandemic, the Export-Import Bank of the United States (EXIM) board of directors underscored its strong support for new initiatives to inject liquidity into the market and give maximum financing flexibility to facilitate sales of U.S. goods and services abroad. Specifically, EXIM’s board of directors, through its unanimous adoption of a resolution during an open board meeting with the public via teleconference, affirmed its support of the following temporary EXIM programs to provide relief to U.S. businesses their buyers, financial institutions, and American workers negatively impacted by COVID-19: Bridge Financing Program; Pre-Delivery / Pre-Export Financing Program; Supply Chain Financing Guarantee Program; and Working Capital Guarantee Program. Learn more...

MA Life Sciences Emergency SupplyHub companies are donating PPE, supplies, and resources necessary for those on the healthcare frontlines to keep treating patients with COVID-19. PPE is needed more than ever and the demand for testing supplies is becoming more acute. The State has set-up a new portal to handle all offers of assistance – from donations to procurement to manufacturing. If you have PPE to donate or can help the state with procurement or manufacturing, please share that information directly with the state through these links.

Mar 27, 2020 - SBA Offers Disaster Assistance to Small Businesses in Berkshire, Hampden, and Worcester Counties in Mass. Impacted by the Coronavirus (COVID-19) - video
Apr 09, 2020 - Listen to Congressman Joesph Kennedy, SEED Corporation, the MSBDC and others speak about programs available to individuals and small businesses during the COVID-19 pandemic during the Taunton Area Chamber of Commerce's Town Hall Discussion
Apr 10, 2020 - PITTSFIELD, Mass. — As small businesses confront what some analysts already have called the worst financial crisis since the Great Depression, the phones of a small-business adviser have been relatively quiet. "The main contact we're getting is through email," Keith Girouard said this week." That is a lot more effective and efficient for us. "We're working through phone and Zoom [video conferencing] as well. But the phone is not ringing off the hook. The emails are ringing off the hook."
 
Girouard is the Berkshire regional director of the Massachusetts Small Business Development Center Network. He operates one of five such centers across the commonwealth and a thousand in the United States and its territories. Read more...
Updated 4/14/20 - Guidance for Self-Employed, 1099ers & Independent Contractors. SBA released guidance "Interim Final Rule - Additional Eligibility Criteria and Requirements for Certain Pledges of Loans Applicable Affiliation Rules" highlighting frequently asked questions for PPP loan applicants who are Individuals with Self-Employment Income who File a Form 1040, Schedule C.

The Pros and Cons of the SBA Relief Programs: A Panel of Experts Weigh In (webinar) 

(April 13, 2020) EforAll hosted a webinar to discuss the new SBA relief programs introduced to help businesses impacted by the COVID-19 crisis. Speakers include: Anthony Ackil, CEO, Streetlight Ventures; Melinda Ailes, Senior Business Advisor, Massachusetts Small Business Development Center; Michael Medina, Loan Consultant, Accion Serving the East Coast; Matt Pierce, Chief Credit Officer, Leader Bank; and Sushil Tuli, Founder, Leader Bank. Click here to view.

Small Business Resiliency - An actionable business resiliency plan could mean difference between business continuity and closure. Courtesy of America's SBDC and Google.

Apr 17, 2020 - SBA's PPP Program Is Out of Funds — But Firms Should Keep Applying
Apr 20, 2020 - Baker-Polito Administration Announces Implementation Of CARES Act Unemployment Benefits For Self-Employed, Gig Economy And Other Workers
Apr 28, 2020 - Gov. Baker continues stay-at-home advisory and closure of nonessential businesses until May 18. Click here for details.

Small Business Loan Resources from SBA:

  • Paycheck Protection Program - This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program. Apply through lender.
  • SBA Express Bridge Loans - Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. Apply through current SBA Express lender.
  • SBA Debt Relief - The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
  • Export Express loan program allows access to capital quickly for businesses that need financing up to $500,000. Businesses can apply for a line of credit or term note prior to finalizing an export sale or while pursuing opportunities overseas, such as identifying a new overseas customer should an export sale be lost due to COVID-19.
  • Export Working Capital program enables small businesses to fulfill export orders and finance international sales by providing revolving lines of credit or transaction-based financing of up to $5 million. Businesses could use a loan to obtain or retain overseas customers by offering attractive payment terms.
  • International Trade loan program helps small businesses engaged in international trade to retool or expand to better compete and react to changing business conditions. It can also help exporting firms to expand their sales to new markets or to re-shore operations back to the U.S.

Beware of Scams and Fraud Schemes

The Office of Inspector General recognizes that we are facing unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19). The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the largest financial assistance bill to date, includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times. Be on the lookout for grant fraud, loan fraud, and phishing.

SBA to Make Economic Injury Disaster Loans Available to U.S. Agricultural Businesses Impacted by COVID-19 Pandemic

U.S. Small Business Administration Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. Read more...

Empowerment Grant for Small Businesses

(May 2, 2020) The State Treasurer’s Office of Economic Empowerment (OEE) is proud to offer The Empowerment Grant for Small Businesses as an acknowledgement of the devastating economic impact that the COVID -19 pandemic has had on the Massachusetts small business community. The Empowerment Grant Program aims to support the well-being and continuity of small businesses by providing access to capital and empowerment through engaging in OEE resources. Grant resources will be focused on small business owners serving Massachusetts Gateway Cities. The State Treasurer’s Office of Economic Empowerment encourages minority-owned, women-owned, veteran-owned, and/or immigrant-owned small businesses located in gateway communities to apply. Applicants are encouraged to illustrate how they can utilize funds to support initiatives that will allow them to continue operating during and/or after the COVID-19 pandemic. Applicants may request up to $2,500 for the proposed need. Application deadline is May 29, 2020. Click here for details.

SBA Updates May 13 & 14, 2020 -  Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request

Requirements for Loan Increases for Partnerships or Seasonal Employers

Eversource Enhances Small Business Energy Efficiency Program - In an effort to help small business owners reduce their energy costs and impact on the environment during this difficult time, Eversource is now offering no-cost virtual energy assessments and enhanced incentives of 100 percent of the cost of common energy saving measures for small businesses. Read more...
Return to the Workplace Guide For Massachusetts Employers​​​ - The new 80-page guide is now available for download in the AIM web store. The guide is consistent with the phased re-opening of the Massachusetts economy and accompanying safety standards announced yesterday by Governor Baker. The guide is a collaboration among AIM, AIM HR Solutions and A.I.M. Mutual Insurance Company and is offered free of charge. Click here to download.
Federal Resources for U.S. Small Businesses - The official federal resource website for U.S. small businesses affected by COVID-19. You can view relevant federal agency resources, access the latest news, and search for a Small Business Advisor near you. Click here for information.
State of Small Business Report - Small and medium-sized businesses in the United States are being hit hard by the COVID-19 crisis.   As part of our ongoing data collection effort with the World Bank and the OECD on the Future of Business, Facebook conducted a survey, in partnership with the Small Business Roundtable, of approximately 86,000 people who owned, managed or worked for a small and medium-sized business (“SMB”), including approximately 9,000 operators of “personal” businesses, i.e. people who reported that they were “self-employed providing goods or services” or that they “produce goods sold for personal income” but did not otherwise self-identify as an “owner” or “manager” of a business. The results provide a better understanding of which businesses are still operational and which are not, where they are located, and what their most pressing needs are. Click here for the full report.
May 27, 2020 - Be On Alert for National Unemployment Insurance Scam: Associated Industries of Massachusetts today warned employers and workers to be on alert for a national scheme in which scammers are using stolen person information to file fraudulent unemployment claims in Massachusetts. Read more...
June 1, 2020 - Paycheck Protection Program (PPP) Lending Update from SBA
June 8, 2020 - Joint Statement by Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza Regarding Enactment of the Paycheck Protection Program Flexibility Act
June 10, 2020 - Download the updated Return to the Workplace Guide For Massachusetts Employers​​​ - Phase I & Phase II. Courtesy of Associated Industries of Massachusetts.
June 10, 2020 - Apply for a COVID-19 Business for All Emergency Grant. Hello Alice has designated a portion of its $10,000 emergency grants exclusively for Hispanic business owners. Click here for details.
June 10, 2020 - City of Greenfield Announces COVID Recovery Micro-Enterprise Assistance Program
June 15, 2020 - SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic
Download MSBDC Senior Business Advisor Cliff Robbin's presentation on "It's Time for a S.M.A.R.T. Recovery (pdf)
June 18, 2020 - Last Chance to Apply for Paycheck Protection Program Funds: June 30 Deadline! Time is running out to apply for a Paycheck Protection Program (PPP) loan to help your small business through the COVID-19 crisis. There is still more than $120 billion available and the June 30 deadline to apply is fast approaching! Click here for details.
June 19, 2020 - Consistent with Public Health Data and Trends, Step Two of Phase II of Reopening Massachusetts Set to Begin on June 22 [read more]
Jun 24, 2020 - Alert: FTC, SBA warn companies about SBA loan promises
COVID-19 Business Recovery Workbook (courtesy of the VT SBDC)
Jul 24, 2020 - Governor Baker Issues Strict Travel Order starting August 1
Covid-sb.org is the new official federal resource website for U.S. small businesses affected by COVID-19.
August 7, 2020 - Governor Baker slows Mass. reopening process, tightening restrictions on gatherings and restaurants. Watch press conference by clicking here.
Reopening Business During COVID-19: What Employers Need to Know (courtesy of Foley and Foley, PC). The webinar is available at www.msbdc.org/covid-19/webinars.

 

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