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COVID-19 SMALL BUSINESS RESOURCES

The Small Business Administration (SBA) and the Department of Treasury have begun releasing the information that will guide the programs created through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The Small Business Owner’s Guide to COVID-19 Relief Legislation

To stay up to date on the implementation of these programs, please visit the following websites:

  • SBA – here you will find information on all COVID-19 related programs that SBA is providing, including the Paycheck Protection Program, Economic Injury Disaster Loans and Emergency Grants, and Small Business Debt Relief.
  • Department of Treasury –  here you will find information on the Paycheck Protection Program, as well as other tax provisions meant to help employers, including non-profits.  

The CARES Act includes three major components of small business assistance:

  • $350 billion in loan forgiveness grants to small businesses and non-profits to maintain existing workforce and help pay for other expenses like rent, mortgage, and utilities.
  • $10 billion for SBA emergency grants of up to $10,000 to provide immediate relief for small business operating costs.
  • $17 billion for SBA to cover 6 months of payments for small businesses with existing SBA loans.

Alongside this aid, Senator Markey is providing resources to help the Massachusetts small business community navigate relief package.

Local Assistance

SBA supported counselors can help guide small businesses during these uncertain times. The following local resources are available to Massachusetts businesses:

Small Business Development Centers

Women's Business Centers

SCORE Mentorship Chapters