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Business Support

In an effort to support businesses in Danvers the Town will be providing relevant updates related to COVID-19 as information becomes available. We are here for you and are ready to assist you and your employees as much as we possibly can.

The State of Massachusetts has created a webpage with fantastic information, resources and guidance for businesses. This page contains links to State and Federal programs designed to help business owners maintain payroll and obligations, offer loan assistance, and guidance for your employees related to unemployment or employment assistance. A few of these programs are outline below.

During this time, if we can be of assistance please let us know. For updated information specific to the COVID-19 pandemic and the Town’s response, please visit the following page: https://www.danversma.gov/information-on-coronavirus/

Sincerely,
David Fields, Director of Planning + Economic Development
dfields@danversma.gov

Paycheck Protection Program (PPP)

The Small Business Administration (SBA) is enhancing its Paycheck Protection Program during the COVID-19 pandemic. This program is designed to help you keep payroll moving and keep your employees employed. Any small business with less than 500 employees is eligible. For more information, click here: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp

Express Bridge Loans (EBL)

In response to the COVID-19 National Emergency, the SBA Express Bridge Loan Pilot Program has been modified. Under this program businesses can now apply for up to $25,000 to assist in the ongoing pandemic recovery. https://www.sba.gov/sites/default/files/2020-03/Express-Bridge-Loan-Pilot-Program-Guide-FINAL-3.25.20.pdf

Economic Injury Disaster Loan (EIDL)

The SBA is issuing an Economic Injury Disaster Loan advance of up to $10,000 for eligible businesses, with a maximum loan amount of $2 Million. For more information, click here: https://covid19relief.sba.gov/#/ Please note, this program is eligible for small businesses with an existing banking relationship with SBA Express lenders as of the date of the disaster. Check Lender List Here

Massachusetts Workshare Program (Layoff Prevention)

This program offers employers an alternative to direct cuts in workforce. Employers can divide available work between affected employees instead of laying off workers. It also allows employees to receive a part of their unemployment insurance (UI) benefits while working reduced hours. For more information about this program and to apply: https://www.mass.gov/how-to/apply-for-workshare

Division of Insurance Bulletin

The Commonwealth of Massachusetts Division of Insurance issued a bulletin for insurance carriers encouraging them to offer flexibility to policyholders. This bulletin can be found here: https://www.mass.gov/news/bulletin-2020-05-flexibility-in-the-issuance-and-administration-of-insurance-during-covid-19

Tax Relief

The Baker-Polito administration announced administrative tax relief measures for small local businesses impacted by the ongoing COVID-19 outbreak, especially in the restaurant and hospitality sectors. Tax relief includes postponing the collection of regular sales tax, meals tax, and room occupancy taxes that would be due in March, April and May so that they will instead be due on June 20. Additionally, all penalties and interest that would otherwise apply will be waived. For more information, please visit: https://www.mass.gov/news/baker-polito-administration-makes-new-announcements-on-childcare-small-business-tax-relief-and

Unemployment Virtual Town Hall

The Department of Unemployment Assistance (DUA) hosts daily town hall meetings to guide attendees through the process to achieve a successful unemployment claim and to answer questions. These Virtual Town Halls will be held every day until the DUA call center is fully staffed and operational. To learn more visit: https://www.mass.gov/forms/massachusetts-department-of-unemployment-assistance-dua-virtual-town-halls

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