COVID-19 Updates and Resources

INFORMATION

** *Gov. Baker SUSPENDS unessential businesses through May 4th

This includes, but is not limited to, the following:

  • Hairdressers and barbers

  • Nail salons

  • Massage services

  • Body Art

  • Body Work

  • Spa services

  • General Retail

As of now, this closure does not apply to:

  • takeout

  • delivery

- There is ban on visits to senior centers except in the case of emergency.

- Parks are closed 

- Per Gov. Baker's statement, people should not congregate in groups larger than 25.  

- Schools will be closed statewide

 -All gyms, health clubs, theaters, entertainment venues, social clubs, and houses of worship be closed until further notice.

RESOURCES FOR BUSINESSES

DOWNLOAD the EMPLOYMENT LAW in the time of COVID-19 Slides here. 

The CARES Act is a federal law that directs $2 trillion in funding to COVID-19 relief efforts. The CARE Act is wide reaching and includes help for individuals and small businesses. For more information on what is included in the CARE Act, visit www.somervillema.gov/coronavirushelp. Local business owners can also find information at www.somervillema.gov/covidbizhelp.


Assistance for small businesses includes:

  • Paycheck Protection Program Loan

    • This loan helps businesses maintain cash-flow and keep workers on payroll. If payroll is maintained, loans can be forgiven.

    • This program offers up to eight weeks of payroll forgiveness, no Small Business Administration (SBA) fees, and least six months of deferral with maximum deferrals of up to a year.

    • Businesses impacted by COVID-19 can apply for loans through June 30, 2020, and loans are retroactive to February 15, 2020, in order to help bring back workers that may have already been laid off.

    • Eligible businesses include for-profit businesses and 501(c)(3) organizations with 500 or fewer employees, as well as sole proprietorships. 

Download the PPP LOAN FACT SHEET

WEBINAR: COMPLETING THE PAYCHECK PROTECTION PROGRAM APPLICATION & TROUBLESHOOTING

Apr 6, 2020 9:37 AM

Anthony Salas

Tuesday, April 7
1:00 pm ET

REGISTER HERE

As a follow up to last week's webinar, What the Stimulus Package Means for Nonprofits & Small Businesses, join the American Business Immigration Coalition, the National Partnership for New Americans, the National Restaurant Association and the Illinois Restaurant Association for the second webinar in their Paycheck Protection Webinar Series.

 

The Paycheck Protection Program is part of Phase 3 of the CARES Act passed by Congress last week.

Topics to be covered in the webinar include: 

  • Application Process 

  • Addressing FAQ from the last webinar 

  • Guidance on Addressing Lack of Access and Denials 

  • Insider Scoop from Lenders & the Small Business Administration 

WEBINAR: Levering Resources to Survive and Thrive

Friday, April 10th @ 2:30pm ET   &  4:00pm ET (en español)
Will provide information on the SBA and programs signed into law by the CARES Act, as well as educational tools and mental health resources during this difficult time. Please join us for this webinar to learn about the nationwide and local resources available to you during COVID-19.
Register for the English webinar here, or to join in Spanish here.

Starting April 3 small businesses and sole proprietors can apply for the Paycheck Protection Program (PPP). Starting April 10, independent contractors and self-employed individuals can apply. Apply as quickly as you can: there is a funding cap.

 

What to do now?

  1. Review info below

  2. Contact your bank to ask if they can process PPP loans; if they cannot, the SBA can direct you (or reply here so we can support)

  3. Schedule an appointment immediately

  4. Familiarize yourself with details needed (tools below)

  5. Organize your paperwork

  6. Apply   

 

PPP is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is intended to provide businesses like yours with 8 weeks of cash-flow assistance through 100% federally guaranteed loans.  

 

PPP Highlights:

  • The loan covers expenses dating back to February 15 to June 30, 2020

  • Small businesses, sole proprietorships, independent contractors, and self-employed individuals can all qualify

  • The loan has a maturity rate of 2 years and an interest rate of 0.5%

  • No need to make loan payments for the first six months

  • No collateral or personal guarantees required

  • No fees from the government or from lenders 

  • The loan can be forgiven and essentially turn into a non-taxable grant when used for

    • Payroll (however, at least 75% of the forgiven amount must have been used for payroll)

    • Interest on mortgages 

    • Rent

    • Utilities 

  • You must keep employees and maintain salary levels—or rehire quickly

  • To learn more about the Paycheck Protection Program from the SBA, click here.

 

Helpful documents linked and attached:

 

  1. CARES Act provisions at a glance

  2. PPP Business Guide and ChecklistLeer en español (PDF)

  3. Spreadsheet to help collect the data for your PPP loan application (credit Nardella & Taylor, LLP in Lexington): download to your computer to use

  4. PPP application download or save to your computer to use

  5. More details for PPP borrowers. Folks around the nation are working tirelessly to understand the details of this package - you’ll see this is a working document! 

  • Small Business Debt Relief Program

    • This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans.

    • Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months.

    • This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law.

  • Economic Injury Disaster Loans & Emergency Economic Injury Grants

    • These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL).

    • To access the advance, you first apply for an EIDL and then request the advance.

    • The advance does not need to be repaid under any circumstance and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments. 

Important clarification: Economic Injury Disaster Loans (EIDL) – aka SBA disaster loans – are different. Helpful things to know:

  • SBA disaster loans may require collateral for loan amounts over $25,000

  • To receive a SBA disaster loan, you generally need to have no other source of credit

  • SBA disaster loans can cover most operating expenses

  • To apply for a (non-forgivable) EIDL loan, click here.

  • Small Business Tax Provisions

    • The Employee Retention Credit for Employers Subject to Closure or Experiencing Economic Hardship provides a refundable payroll tax credit for 50 percent of wages paid by eligible employers to certain employees during the COVID-19 crisis. The credit is available to employers, including non-profits, whose operations have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. The credit is also provided to employers who have experienced a greater than 50 percent reduction in quarterly receipts, measured on a year-over-year basis. The credit is not available to employers receiving assistance through the Paycheck Protection Program. The credit is provided through December 31, 2020.

    • The Delay of Payment of Employer Payroll Taxes allows taxpayers to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments, one at the end of 2021, the other at the end of 2022. Payroll taxes that can be deferred include the employer portion of FICA taxes, the employer and employee representative portion of Railroad Retirement taxes (that are attributable to the employer FICA rate), and half of SECA tax liability. Deferral is not provided to employers receiving assistance through the Paycheck Protection Program.

  • Counseling & Training

    • Resource partners including Small Business Development Centers (SBDC), Women’s Business Centers (WBC), or SCORE mentorship chapters will receive additional funds to expand their reach and better support small business owners with counseling and up-to-date information regarding COVID-19.

    • There will soon be a joint platform that consolidates information and resources related to COVID-19 in order to provide consistent, timely information to small businesses. 

LISC/Verizon Small Business Grant Application Goes Live: #PayItForward

Verizon has committed to an initial fund of $2.5 million with LISC, with the potential of an additional $2.5 million to provide critical relief to small businesses and non-profits facing immediate financial threats. US Bank also has contributed another $500,000 to the fund.

 

Apply for the LISC Rapid Relief and Resiliency Fund by clicking here. The application process is now open and applications must be submitted by April 4 at 11:59 p.m. to be considered.

The MA Emergency Management Agency (MEMA) and Baker-Polito Administration are working closely with the U.S. SBA to activate the Economic Injury Disaster Loan (EIDL) program which would provide assistance to eligible businesses and non-profits impacted by COVID-19.  The 1st step in this process is to meet a minimum threshold of affected businesses within MA.​  Affected small businesses and non-profits should download, complete, and submit the SBA EIDL Worksheet ( https://lnkd.in/ewF7VBy ) & Instructions to expedite activation of the EIDL program.  ​Completed forms can be submitted by email to Disaster.Recovery@mass.gov or by fax to (508) 820-1401.  If you do fax the form, please include your e mail.     Please note, this initial survey form is not a SBA loan application.  ​When the EIDL program is activated, you will be contacted to apply directly to the SBA and this website will be updated with application details. For questions, please contact Disaster.Recovery@mass.gov  ​About the EIDL program: EIDLs provide small businesses with working capital loans of up to $2 million to help meet financial obligations and operating expenses until normal operations resume.

 

SBA Offers Statewide Disaster Assistance to Massachusetts Small Businesses Economically Impacted by the Coronavirus (COVID-19)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.

​Benefits and Protections to Donate excess Food: http://www.chlpi.org/wp-content/uploads/2013/12/handout-vFINAL.pdf

  • Project SOUP is open and may be able to accept produce and retail-pack (not bulk) dry goods.

Tax Relief for Small Businesses For small businesses, defined as those who paid less than $150,000 in 2019 in sales and meals, or room occupancy taxes, we will be postponing the payment of their respective sales, meals, or room occupancy taxes.

  1. Taxes due for March, April, and May will instead be due on June 20.

  2. All penalties and interest that would otherwise apply will be waived.

  3. The Department of Revenue is currently drafting emergency regulations to put this relief in place, and we expect them to be finalized before Friday.

RESOURCES FOR EMPLOYEES

Unemployment Resources from the State and the general Department of Unemployment website

WorkShare The State’s Office of Workforce and Labor offers a program allowing businesses to reduce the hours of permanent full-time and part-time employees between 10% to 60% with the remainder of hours being made up with Unemployment Assistance. This can help prevent layoffs and keep workers employed without undue hardship on a business. You can apply here, or get more information from the State’s Rapid Response staff by emailing charles.bennett@state.ma.us or calling (617) 620-4965. The City will continue to make more information on unemployment assistance available in the coming days.

Grant Funding Opportunities:

Restaurant Strong Fundhttps://www.restaurantstrong.org/index.html

BARTENDER EMERGENCY ASSISTANCE PROGRAM: https://www.usbgfoundation.org/beap

Emergency Funds for Boston-Area Service Workers

The Boston Music Maker Relief Fund

 

Camberville Hospitality Workers Fund 

RECOMMENDATIONS FOR BUSINESSES

MENTAL HEALTH RESOURCES

 

 

 

How to Do Nothing: Resisting the Attention Economy, “In the context of health and ecology, things that grow unchecked are often considered parasitic or cancerous. Yet we inhabit a culture that privileges novelty and growth over the cyclical and the regenerative.”

 

And some ideas for what to do when you put your phone down.

https://medium.com/@amandamiklik_llc/100-screen-free-ways-to-spend-your-time-keeping-yourself-and-others-safe-from-the-novel-884201860373?sk=d8cd647309ce247f4e9f132ad827400f

HOW YOU CAN HELP

Contact Us

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