Financial Assistance and Resources for Businesses

WorkShare for Employers - Commonwealth of Massachusetts

WorkShare is a program that offers a smart alternative to layoffs.  Employees work reduced hours while collecting unemployment benefits to supplement their income.   


Paycheck Protection Program (PPP)

Applications must be received by June 30, 2020.  The House and Senate recently passed a bill that was signed into law that changes the terms for PPP to allow more flexibility.

  • Extended the PPP to 24 weeks for use.

  • It would change a 75/25 divide included in the March bill - which would required businesses to spend 75 percent of the loan on payroll and 25 percent on the other fixed costs, such as rent and utilities - to a 60/40 ratio.

  • The new guidelines ensure that borrowers who are unable to return to the same level of business prior to Feb. 15 won’t be penalized for reducing the number of full-time equivalent employees. The new act also provides protections for borrowers who are unable to rehire individuals who were employees on Feb. 15 and unable to hire employees for unfilled positions by Dec. 31, 2020.

  • Additional information on the changes recently made to the PPP



Economic Injury Disaster Loan (EIDL) and EIDL Loan Advance

At this time, the SBA is only accepting agricultural business applications due to limitations in funding availability and the unprecedented submission of applications already received.



SBA Express Bridge Loans

Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.


SBA Debt Relief

As part of coronavirus debt relief efforts, the SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans.