Small Business Resources

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Daily Zoom Calls

by Entrepreneurship Center

The Entrepreneurhship Center @Community Teamwork will be hosting a live discussion to help business owners who may be planning to retain or rehire staff in order to be remain in good standing for PPP loan forgiveness. You will receive the call-in number at the end of filling out the form.

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Grants and FREE Resources

Time sensitive (updating weekly)

Check out some of the National Resources available here in MA. There are multiple FREE resources and grants. We are updating them on a regular basis on our Facebook Page.

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The Small Business Owner’s Guide to the CARES Act

(PPP)

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners. The new Final Interim Rule was released that addresses self-employed and 1099 PPP applications. 

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Coronavirus Emergency Loan

Congress

Congress has approved $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some — or possibly any — of the loan. Here’s a guide and checklist from the U.S. Chamber of Commerce to help your small business through the process.

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Low-interest Federal Disaster Loans:

by the SBA

The U.S. Small Business Administration is also offering low-interest federal disaster loans for working capital to small businesses, but the governor must request a disaster declaration before businesses can apply.

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Government Contracting 101 workshop

by the U.S. Small Business Administration

a webinar brought to you by SBA’s Office of Business Development through the 7(j) Management and Technical Assistance Program’s 7(j) provider, Catalyst Center for Business and Entrepreneurship. 

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SBA Debt Relief Microloans

by Entrepreneurship Center

  • Microloans up to $50,000

  • Businesses located within the Middlesex and Essex counties within Massachusetts

  • 7.75% Interest Rate*

  •  Terms up to 6 years

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Reopening Phases

Commonwealth of Massachusetts Resources

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Guidance to Plan and Respond to Coronavirus:

Guidance for Employers

Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. If you are looking for guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19).

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Tax deadline pushed back:

byTreasury Secretary

Great news for businesses:
Treasury Secretary announced that his department is pushing back the April 15 deadline to pay taxes owed for many individuals and businesses, giving them 90 extra days to send checks to the government.

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Help us to help you:

by the City of Lowell

The City of Lowell is sharing with the public a short survey that will help them understand what's the next step to better serve our community and small business owners. Fill the following survey and be part of the change:

As this period of self-isolation begins, we are acutely aware that in addition to the burden of carrying for their families health; thousands of local entrepreneurs face additional layers of stress, including maintaining the financial health of their business and their staff during these uncertain times. 

While larger firms may have resources to sustain prolonged business shortages, local businesses often operate with very tight margins and very limited long term resources. Estimates say that Downtown Boston restaurants may lose over 40% of their revenue with the students gone. Greater Lowell businesses may experience similar levels of business decline. For most small businesses, a 40% decrease, even for a short period, can mean the difference between sustainability and closure.

Also, in most cases, entrepreneurs do not have access to safety-nets that many of us take for granted, like unemployment and paid sick time. The government may take efforts to mitigate these challenges, but the local consumer community can also make a difference.

Here are few simple ways that we can support our local entrepreneurial heroes, both to express our commitment to them as well as to honor the role they play in providing jobs to our friends, family and neighbors.

 

With immense gratitude

- Entrepreneurship Center Staff

Si necesitas asistencia en español, contactar Karla Velis a kvelis@commteam.org

 

4 simple ways to support small businesses

Questions?

Last but not least…

If you need immediate support to apply for a microloan locally or don’t meet the requirements for this fund, don’t be alarmed; the Entrepreneurship Center will be available virtually for loans with small businesses and you can contact KellyAnne at kmello@commteam.org

or if you need any assistance in Spanish at kvelis@commteam.org