COVID-19 Small Business Resources

Major Disaster Declaration

The Major Disaster Decleration for Massachusetts was approved by the President. This makes Small Business Administration assistance available to everyone in Massachusetts and the contiguous counties in bordering states.

Please visit the mass.gov website for more information

CARE Act- Small Business Relief

The Federal Government passed the CARES Act, which provides financial protections for Small Businesses. As part of the CARES Act, Small Business may apply for an Economic Injury Disaster Loan.

Economic Injury Disaster Loan

Available to small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, 

  • Loans up to $2 million to help with financial obligations and operating expenses
    • 3.75% interest for small business
    • 2.75% interest rate for non-profit organizations
    • Maximum of 30 year repayment term
  • Eligibility is based on the financial impact of the Coronavirus (COVID-19)
  • Applications available online or via SBA’s customer Service Center
    • Customer Service Center contact info: (800) 659-2955 or email disastercustomerservice@sba.gov 
    • Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339
    • Mail completed applications to:

U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155

Find additional information from the Small Business Administration regarding their COVID-19 response and additional resources on their COVID-19 section of the website.

The U.S. House of Representatives Committee on Small Business website contains additional information on the CARE Act.

Local Resources

Through a partnership WesternMass Business Technical Assistance Collaboration, please use this spreadsheet as a resource for Small Business Assistance.

The spreadsheet contains WesternMass’ list of business resources for Hampden, Hampshire, Franklin, and Berkshire Counties. The list is meant to provide businesses in WesternMass a list of online trainings and webinars for Businesses.

Tax Relief

Governor Baker has filed Emergency Orders to provide tax relief to Small Businesses that have been affected by COVID-19. See below for information on tax relief measures:

Sales & Use Tax

Applies to vendors with a cumulative liability of $150,000 or less for the 12 month period ending Feb. 29, 2020. Those with returns and payments due between March 20 and May 31, 2020 shall be suspended until June 20, 2020. This does not apply to Marijuana vendors.

Click here for more information.

Room Occupancy Use Tax

Applies to occupancy operators with a cumulative liability of $150,000 or less for the 12 month period ending Feb. 29, 2020. Returns and payments, including local options, due between March 20 and May 31, 2020 shall be due until June 20, 2020. This does not apply to intermediaries.

Click here for more information.

Meals Tax & Room Occupancy Excise

Late File and Late Pay Penalties will be waived for meals vendors, operators, and intermediaries that do not qualify for the relief mentioned above under “Room Occupancy Excise for operators.

To be eligible for a penalty waiver, vendors, operators and intermediaries must file their returns and remit payments on or before June 20, 2020.

This is a waiver of penalties only, statutory interest will continue to accrue.

Click here for more information.

State Assistance

As of March 19th, 2020 at 12:30pm, applications are no longer being accepted due to availability of funds. Please utilize Federal resources at this time.

Governor Baker established a $10 million relief fund for small businesses affected by COVID-19.

 

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