Massachusetts Small Businesses Can Get Some Of $75 Million Covid Relief Fund

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This includes ensuring that you are registered with the IRS for employee taxes and reporting new hires to the State of Massachusetts. This loan program allows for small businesses that currently have a business relationship with an SBA Express Lender to access up to $350,000 with less paperwork than the EIDL. These bridge loans can provide economic support and also be used to bridge the gap while applying for a SBA Economic Injury Disaster Loan . If a small business has an urgent need for cash while waiting for decision and disbursement on their Economic Injury Disaster Loan, they may qualify for anSBA Express Disaster Bridge Loan. The new funds are part of the $4 billion American Rescue Plan and will support small businesses impacted by the Covid-19 pandemic. The new program will provide $50 million for businesses in underserved markets, including those owned by minorities, women and veterans.

By choosing local, you are creating jobs in your community, fostering growth, and doing good for the environment. The focus will be on helping existing Massachusetts Small Businesses Near Me and non-profits who have experienced impact due to COVID-19. We can assist on a variety of digital tools and resources available on the cloud/web. At this time, onsite hardware or software installation and configuration is not available. If you are a new client, please register in order to receive free and confidential business advice from our advisers.

If you choose not to register your company as a business entity, you will be held personally responsible for the debts and liabilities of your business. Find organizations in your local area that can assist you with planning. When naming a business, you’ll want to choose an available name that follows Massachusetts’ naming rules for an LLC or corporation and resonates with your customers. Use our Business Name Generator to find the perfect brand name and website. If you get stuck along the way, connect with a business resource in your local area for help.

SBA will apply those payments normally as if there was no deferment. 1201 monthly payment notices will continue to be mailed out which will reflect the loan is deferred and no payment is due. Businesses that did not qualify for previous MGCC grants because of a lack of revenue loss in 2020 are being assigned a $25 million share of the pot. Businesses eligible for grants from the $75 million fund will be those employing between two and 50 people.

Using a digital triage approach each project will quickly perform one or all of needs analysis, identification of relevant resources, implementation, training, and remote operation. State WideAn online resource for current businesses or entities starting up that provides information, tools and more. Starting a business can be tough, especially if it’s your first time.

Find out which business structure is right for your new business in Massachusetts . The Small Business Owner’s Guide to the CARES Act is a comprehensive Q&A for Massachusetts small businesses. If you are looking to apply for a small business grant, you can apply at Mass Growth Capital Corp. – Empowering Small Business. Wednesday’s announcement comes after Baker spoke at Luanda restaurant in Brockton, which was one of many businesses to receive a grant during the first round of small business funds. Google Maps is a great way to get from “”here to there.”” They offer driving directions, along with walking, biking, and directions by public transportation.

The SBA will also automatically pay the principal, interest, and fees of new 7, 504, and microloans issued prior to September 27, 2020. The SBA will automatically pay the principal, interest, and fees of current 7, 504, and microloans for a period of six months. Now those businesses who missed out on the first round of funding have a second chance. There is some good news for small businesses in Massachusetts as the Baker-Polito Administration announce a new $75 million grant program.

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Our logo maker is free (no sign-ups or email address needed) and it comes in all social media sizes. It’s easy and hassle-free–with no design experience required! Or, if you want to explore your options, you can also use this free logo maker by Tailor Brands. Once you feel confident about your answers to these questions, it’s time to move onto your business name. Your business name is the cornerstone of good branding and a successful business.

If you’re a woman in business, find funding, tools, and resources with this great Women in Business series. Before you write your business plan, conducting thorough market research is crucial. This can involve conducting surveys, doing search engine optimization research, or holding focus groups. The goal of market research is to better understand your target market and competitors in order to craft an effective business plan. $10 billion for SBA emergency grants of up to $10,000 to provide immediate relief for small business operating costs.

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