COVID-19: Massachusetts Announces Economic Aid for Small Businesses

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MA has announced some economic aid for small business affected by the COVID-19 pandemic (press release: https://www.mass.gov/news/baker-polito-administration-announces-10-million-small-business-recovery-loan-fund)

Key provisions:

  • loans up to $75,000 per business ($10 million total fund)
  • for Massachusetts-based businesses with under 50 full- and part-time employees (including nonprofits)
  • loans immediately available; no payments due for 6 months; 30-months of principal and interest payments and no prepayment penalties
  • administered by Massachusetts Growth Capital Corporation – applications at https://www.empoweringsmallbusiness.org/