Small Business Newsletter - Entrepreneur's Edge
MassINC Statewide Small Business Recovery Survey
We’ve partnered with MassINC Polling Group and others to conduct an important statewide survey about how the coronavirus has impacted small businesses in Massachusetts. We’re asking for your input to ensure that economic recovery programs and policies are informed by your current needs.
 
This survey is for small businesses with 500 employees or less. It’s available in English, Spanish, Portuguese, Haitian Creole and Mandarin. It should take less than 10 minutes of your time. Your answers will be analyzed together with other responses and will never be used to identify you personally. This survey will be open for a short period of time. Please respond as soon as possible.
 
Thank you very much for participating in this important initiative. Please share this survey with other Massachusetts business owners to ensure wide representation.

bankESB Webinar on PPP Forgiveness
New Changes to PPP Forgiveness!
 How does this affect Your PPP loan forgiveness? Find out all you need to know from leading local experts.


Wednesday, July 1, 2020* | 10-11:30AM | 💻 via Zoom
*Note new date

Below is an updated summary of what we know as of now:
· Borrowers have a 24 week period to use the funds (instead of the original 8 weeks). Loans made on or after June 5th are automatically a 24 week period, loans before June 5th have the option of the 8 or 24 week period. 
· The threshold for payroll expenditures has dropped from 75% to 60% in order to be eligible for full forgiveness.
· Borrowers can use the 24 weeks to restore workforce and wage levels to pre-pandemic levels in order to be eligible for full forgiveness, this must be done by December 31, 2020 (previously June 30, 2020). 
· New PPP loans (on or after June 5th) will have 5 years to repay the funds not forgiven. Existing PPP loans (pre June 5th) can be extended up to 5 years (from 2 years) if the lender and borrower agree. Interest rate remains at 1%
· Borrowers who received funds can now also delay payment for the employer portion of 2020 Social Security tax (50% repaid in 2021 and 50% repaid in 2022)
MSBDC Webinars
The Mass Small Business Development Network has a continually updated list of small business webinars.
GRANTS



Visit our website for a continually-updated list of grants, both local and national, for small businesses.
Ask for Help - We are there for you.
Valley Community Development's Small Business program offers all business services at no cost. Simply reach out to Dee Dice our Small Business Coordinator to set up an appointment or ask a few questions. Email her at dd@valleycdc.com or call and leave a message 413.586.5855 x230
Worth Referencing
MSBDC provides free and confidential one-to-one business advice to prospective and existing small businesses. They provide a wide variety of business training programs.
Franklin County CDC is a resource to help start or grow your business at any stage. Counsel, Capital and Connections is their motto. They offer a free monthly 1.5 hr workshop on the first Wednesday of each month.
Common Capital offers small business technical assistance for their borrowers.Their online workshops and Facebook live trainings are open to the public.
Hi lltown Community Development assists Hilltown residents by addressing economic, housing, educational, social and community needs while preserving rural character.