COVID-19 Small Business Resources
SBA COVID-19 Relief Programs: On March 27, 2020, the President signed into law the CARES Act, which contains relief for American workers and small businesses.
In addition to traditional SBA funding programs, the CARES Act established these new temporary programs to address the COVID-19 outbreak:
Paycheck Protection Program Reopens: The U.S. Small Business Administration reopened the Paycheck Protection Program on Monday, January 11, 2021 for new borrowers and certain existing PPP borrowers. This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan. For more PPP Information and Resources, please click here.
Extension of EIDL Loan Deferral Period through 3/31/21: Previously, the SBA provided an automatic deferment of principal and interest payments through December 31, 2020 to its existing borrowers of disaster home and business loans that were in regular servicing status on March 1, 2020. Due to the continuing adverse effects of the COVID-19 emergency, SBA is extending the automatic deferment granted in SBA Procedural Notice 5000-20012 for an additional three months through March 31, 2021, for disaster home and business loan borrowers. Click here for more details.
Applications now being accepted for Sector-Specific Relief Grant Program for MA Businesses: The Commonwealth of Massachusetts has made an additional $668 million available to support businesses through new and existing programs. Massachusetts Growth Capital Corporation (MGCC) will target a portion of these funds to sectors experiencing the most significant economic hardship and a loss of revenue due to the COVID-19 pandemic.
Preference will be given to the following sectors:
-Restaurants, bars, caterers, and food trucks that collect and remit meals tax
-Indoor Recreation or Entertainment Establishments
-Gyms or Fitness Centers
-Personal Services (nail salons, barber shops, etc.)
-Event Support Companies: Primary source (more than 50%) of revenue is event-related
12/31/2020 at 12:00 PM – Application opens
01/15/2021 at 11:59 PM – Application closes
Click here for a sample application for COVID-19 Grants for Massachusetts Small Businesses, 50 or fewer employees
Click here for a sample application for COVID-19 Grants for Massachusetts Small Businesses, 5 or fewer employees
Find out how to obtain a D-U-N-S Number
Cape Cod Chamber of Commerce
Cape Cod Reopening Task Force - Bilingual Signage Resources