Economic Resources for Local Businesses/Non-profit Organizations
- Economic Resources
- Small Business Administration Loans
- Notifications & Information from Licensing Department
- CARES Act Guide for Small Businesses - 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 with whatever needs they have right now.
- Downtown Framingham, Inc. - Conducts outreach with downtown businesses and property owners to provide training materials and schedule SCORE consults for the SBA Economic Injury Disaster Loans; publishes how businesses have shifted operations to support consumers, sharing engagement platforms for restaurants, fitness centers, retail stores, and more.
- Massachusetts Health Council
- Small Business Development Center at Clark University
Provides free, confidential, one-on-one assistance to small businesses in Massachusetts, whether you are a current client or looking to learn more about the sustainability your business, visit their website for more info.
- MetroWest Chamber of Commerce
- MetroWest Emergency Relief Fund and Feed Framingham COVID-19 Fund
- 495/MetroWest Partnership
- Small Business Administration - Small Business Guidance & Loan Resources. (Note: The City has learned people are having trouble uploading loan application documents on the website because of traffic. The Small Business Administration recommends emailing application documents instead. Email for document submission is: email@example.com
- Unemployment Assistance
- CDC Guidance for Businesses
The Baker-Polito Administration announced that the U.S. Small Business Administration (SBA) will offer low-interest federal disaster loans for working capital to Massachusetts small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). The disaster declaration makes SBA assistance available following a request received from Governor Charlie Baker on March 17, 2020.
The disaster declaration makes SBA assistance available in the entire state of Massachusetts; and the contiguous counties in neighboring states.
Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years, and are available to entities without the financial ability to offset the adverse impact without hardship.
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 firstname.lastname@example.org 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.
Changes across the commonwealth of MASSACHUSETTS
- Governor Baker’s extension order closing non-essential businesses and prohibiting gatherings of more than 10 people until May 4, unless further extended.
- Essential businesses defined
- A proposed bill is awaiting the Governor’s signature which may allow on-premise liquor licensees selling take-out/delivery meals to sell beer and wine as part of the food transaction. More guidance will be provided once the bill has been signed.