Business Update from the Town of Bedford
January 21, 2021
Paycheck Protection Program Now Open!
The U.S. Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) has reopened for new borrowers and certain existing PPP borrowers. 

Key PPP updates include:
  • PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
  • The PPP provides greater flexibility for seasonal employees;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

For more information on SBA’s assistance to small businesses, visit sba.gov/ppp or treasury.gov/cares. 

Economic Injury Disaster Loan
In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to coronavirus (COVID-19). If you have already applied via the streamlined application portal, you do not need to resubmit your application. For more information, see the Economic Injury Disaster Loan website.


SBA Covid Relief Update for Retailers, Restaurants and Independent Owners in MA
The Massachusetts SBA District Office is collaborating with the Massachusetts Restaurant Association, Retailers Association of Massachusetts, and the National Federation of Independent Business MA Chapter -- to provide an update on the Paycheck Protection Program and a Q&A session on all the latest news related to COVID relief.
Date and Time: January 25, 9 am
Register here.
Outdoor Dining Program Extended
It’s cold out there today… but you can bundle up and still enjoy dining outside! The Town of Bedford has re-issued its expedited outdoor dining program for 2021. To view the current regulations and application, please visit the Economic Development website. If your restaurant is interested in participating or learning more, please email Alyssa Sandoval at asandoval@bedfordma.gov.
Free Webinar on Telework & Taxes
MassCommute will offer a lunchtime webinar with James Kozik, CPA from New Century Tax & Accounting Services, LLC to discuss the tax implications of working from home.
Areas of consideration include:
• rules about home office write-offs
• working remotely from another state
• the effects of unemployment benefits
• how unused pre-tax parking and transit benefits may impact your taxes 
Date: Thu, Feb 11, 2021
Time: 12:00 PM - 1:00 PM EST
Admission is free.
Life Science and Technology News
B2 Life Job Training Program
The new B2 LIFE Job Training Program is accepting new applicants that are residents of the Towns of Burlington and Bedford. In partnership with the Town of Burlington and MassHire, the Job Training program is focused on training for employment in the high demand industries of life science and health care.

Eligibility is based on household income, individual’s educational goals, and is being offered to residents of Burlington and Bedford. The program’s goal is to help residents that have been impacted by the COVID-19 pandemic whether through loss of a job or reduced hours.

If you are a life science or healthcare company in Bedford and interested in participating in this program as an employer, please contact Alyssa Sandoval at asandoval@bedfordma.gov.

Please see the MassHire dedicated website here for more information about the program. https://masshiremetronorth.org/programs/#lifesciences.

M3 Real Estate Webinar Series: Life Sciences & the Move to the Suburbs Discussion
The Town of Bedford and Ultragenyx were recently featured in the latest Webinar Series facilitated by the Middlesex 3 Coalition and Land & Sea Real Estate on January 12th. This engaging panel discussion with representatives from the Town of Bedford, Northeastern University, Erland Construction, and Ultragenyx highlighted the appeal of suburbs like Bedford to life sciences companies.
  • Read about highlights from the webinar in this article.
  • YouTube of the presentation here.
Contact Alyssa Sandoval, Economic Development Director, at asandoval@bedfordma.gov for questions and guidance.
Town of Bedford | www.bedfordma.gov