SBA Approves Massachusetts

Disaster Declaration

Assistance Will be Provided to Massachusetts Businesses

and Non-Profits Impacted by COVID-19

The Baker-Polito Administration announced that the U.S. Small Business Administration (SBA) will offer low-interest federal disaster loans for working capital to Massachusetts small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). The disaster declaration makes SBA assistance available following a request received from Governor Charlie Baker on March 17, 2020.

The disaster declaration makes SBA assistance available in the entire state of Massachusetts; and the contiguous counties in neighboring states.

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, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years, and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela . Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 18, 2020.

North Shore Conversations is a weekly radio show produced by the North Shore Alliance for Economic Development and hosted by Laura Swanson. The show features regional leaders discussing issues facing and impacting the North Shore. Listeners are provided with information and insight to learn more about the region.

This Saturday, March 21, 2020 between 7:00 AM - 7:30 AM they will feature SBA's Massachusetts District Director Bob Nelson discussing the SBA Economic Injury Disaster Loans (EIDL) which are now available statewide. Please tune to learn more about this important loan program.

Listeners can tune in to 104.9 FM weekly at 7:00 AM - 7:30 AM to hear the show or link to the podcast by clicking here

Nonprofits across Essex County are struggling to meet the dramatic increase in community needs due to the COVID-19 health crisis. Our frontline, social service nonprofits are being asked to do more than ever before, without the funding they need to do it. They need financial resources – and they need them now. 

In response, ECCF is launching a new Essex County COVID-19 Response Fund.

Seeded with $200,000 from ECCF, the fund will provide financial resources to nonprofit organizations working with communities that are disproportionately impacted by COVID-19 and the economic consequences of the outbreak. 

These are truly unprecedented times, and a relief effort of this size requires collective action. Essex County nonprofits are stepping up to meet this moment and they need you, and all of us, to step up with them. Please join us.

Join ECCF and other Essex County donors, funders and business leaders in this collaborative, countywide effort.

Learn more about the Essex County COVID-19 Response Fund including its priorities, oversight and other information.

MassHire North Shore Workforce Board

70 Washington St, Suite 314

Salem, MA 01970

Web: https://masshire-northshorewb.com/

Phone : (978) 741-3805

Fax : (978) 740-5989

Email : info@masshire-nscareers.org