Federal Resources 

President Trump signed the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act”. There are several provisions that impact employers. These measures are largely aimed at stimulating the economy and focus on assistance for small businesses and individual taxpayers.

• Small Business Owner's Guide to the CARES Act
• Unemployment Compensation Provisions Fact Sheet and FAQ
• Direct Cash Payments to Americans FAQ
• The U.S. Chamber has developed a Coronavirus Emergency Loans Small Business Guide and Checklist. This is the first of a number of resources they are developing to help connect members with the resources recently approved by Congress to respond to the ongoing pandemic.

State Resources

House Bill 4586 has passed both the House and the Senate.  It now awaits the Governor’s signature. Once signed, the bill will extend the state income tax filing deadline from April 15 to July 15. The bill will also give restaurants the ability to sell beer and wine via take-out or delivery and give municipalities more flexibility around property tax deadlines.  For a copy of the bill: https://malegislature.gov/Search?SearchTerms=H4586

For the latest State updates click: https://www.mass.gov/info-details/covid-19-resources-and-guidance-for-businesses?mc_cid=d2511fc162&mc_eid=9c813955e5

• Governor's Order - What Businesses are Considered Essential

Massachusetts Small Business Recovery Loan Program

How to Apply:

Please complete the application found on MGCC’s website, EmpoweringSmallBusiness.org. 

Completed applications can be sent via email to mgcc@massgcc.com with the subject line “2020 Small Business Recovery Loan Fund”.

MGCC can be reached by email: mgcc@massgcc.com

Loan Fund Details:

• Who Qualifies: Open to Massachusetts-based businesses impacted by COVID-19 with under 50 full- and part-time employees, including nonprofits (negative impact must be verifiable).
• Terms and Conditions: This fund is being offered with no payments due for the first 6 months, then 30-months of principal and interest payments and no prepayment penalties.
• Businesses can apply for loans up to $75,000.

To Learn more about this Program please click here: https://www.empoweringsmallbusiness.org/what-we-offer/emergency-loan-funds/covid-19-loan-fund

City Resources

Grant applications are available for a new Small Business COVID-19 Relief Grant Program. The program is designed to provide short-term working capital assistance to enable the viability of the business and retention of jobs during the severe interruption caused by the COVID-19 pandemic. For more information click here: https://www.cambridgema.gov/CDD/News/2020/3/smallbusinesscovid19reliefgrant

Preparedness Resources for Businesses provided by the City of Cambridge

Other Resources

COVID-19: Ad Credits for Google Ads Small and Medium-sized Businesses 

Resources to help your Small Business manage through uncertainty by Google

Small Business Administration Programs - Scams and Fraud Alerts