Town Administration understands the importance of supporting local businesses, especially during economic uncertainty. Listed below are resources for businesses impacted by Covid-19. Additionally, we have included a few ways you can support your favorite local businesses during these uncertain times. Town Administration will continue to post updates regarding available aid for impacted businesses. If you have any questions or concerns about your business please email Shannon Regan, Economic Development Coordinator.
Baker-Polito Administration- $10 Million Small Business Recovery Loan Fund
The $10 million Small Business Recovery Loan Fund will provide emergency capital up to $75,000 to Massachusetts-based businesses impacted by COVID-19 with under 50 full- and part-time employees, including nonprofits. Loans are immediately available to eligible businesses with no payments due for the first 6 months. Massachusetts Growth Capital Corporation (MGCC) has capitalized the fund and will administer it.
For more information and the application please go to: https://www.mass.gov/news/baker-polito-administration-announces-10-million-small-business-recovery-loan-fund
Small Business Administration’s Economic Injury Disaster Loan (EIDL) Program
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.
For more information please go to: https://disasterloan.sba.gov/ela
Worcester Chamber of Commerce
In response to the ongoing impact of Covid- 19, the Worcester Chamber of Commerce extended chamber services to all businesses in Greater Worcester, regardless of membership. Those interested in learning about government programs available to businesses can contact Alex Guardiola, director of government affairs and public policy, by Email or call him at 508-753-2924 ext. 222.
For more information please go to: https://www.worcesterchamber.org/covid-19-coronavirus-response-assistance
Auburn Chamber of Commerce
Our local Chamber is always available for business support and guidance. The Chamber is actively staying up to date on all available resources for businesses impacted by Covid-19.
For more information please go to: https://auburnchamberma.org
Ways to Support Local Businesses During Covid-19
Many restaurants are still open for take-out during the mandatory shutdown. Take-out is a great option for still enjoying your favorite restaurants while staying safe and avoiding crowds.
Buy a Gift Card
Another way to still support local businesses that may not be open during Covid-19 is to buy a gift card that you can use once social distancing is no longer needed.
Leave a Positive Review
Do you have a favorite local business? If so, this is a great time to leave a positive review to encourage business owners and help direct traffic to their business once the threat of COVID-19 subsides.