The MassHire South Shore Business Engagement Team remains available to assist businesses in the region remotely. Please visit the following link to find a list of services and contact information to receive assistance. https://www.masshiresouthshorecc.com/employers/
The Commonwealth of Massachusetts is providing a variety of resources and services to assist businesses during this difficult time. In addition to the list below please visit the following link for a complete and updated list of resources: www.mass.gov/info-details/covid-19-resources-and-guidance-for-businesses
- $10M Small Business Recovery Fund Announced by Governor Baker
The program is open to small businesses with less than 50 employees who can demonstrate an adverse impact on revenues resulting from the coronavirus outbreak. Loans are up to $75,000, with an annual interest rate of 3%; there are no payments for the first six months, followed 30-months of principal and interest payments. Visit the Mass Growth Capital Corporations (MGCC) website for details:
- Small Business Administration’s Economic Disaster Loan Program
Massachusetts small businesses can now access and apply for Economic Impact Disaster Loans at www.sba.gov/disaster.
The Small Business Administration (SBA) has established a toll-free line to answer questions at 1-800-659-2955.
- The Baker-Polito Administration announced administrative tax relief measures for small local businesses impacted by the ongoing COVID-19 outbreak, especially in the restaurant and hospitality sectors. The collection of regular sales tax, meals tax, and room occupancy taxes that would be due in March, April and May are now due on June 20, 2020. Additionally, all penalties and interest that would otherwise apply will be waived.Businesses that paid less than $150,000 in regular sales plus meals taxes in the year ending February 29, 2020 will be eligible for relief for sales and meals taxes, and business that paid less than $150,000 in room occupancy taxes in the year ending February 29, 2020 will be eligible for relief with respect to room occupancy taxes.The Department of Revenue is currently drafting emergency regulations to implement these administrative relief measures, and they are expected to be finalized before Friday, March 20, 2020.