Financial Resources & Business Assistance
Some important information from the State for Small Businesses and Unemployment Resources
COVID-19 Resources and Guidance for Businesses
Small Business Assistance for COVID-19
Small Business Administration Economic Injury Disaster Loan (EIDL) Program
EIDL offers Massachusetts businesses who are experiencing hardships resulting from the COVID-19 outbreak access up to $2M in emergency loan capital with rates capped at 3.75%.
Small Business Recovery Loan Fund
Governor Baker has announced a $10 million Small Business Recovery Loan Fund, administered by Massachusetts Growth Capital Corporation (MGCC), to 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.
To assist individuals who cannot work due to the impact of COVID-19, the Administration is filing emergency legislation that will allow new claims to be paid more quickly by waiving the one week waiting period for unemployment benefits.
ROOMS AND MEALS TAX DEFERRAL
Eligible businesses will be able to delay — without penalty — sales, meals, and room occupancy taxes for March, April, and May until June 20. Businesses that paid less than $150,000 in 2019 sales and meals or room occupancy taxes are eligible.
INCOME TAX FILING AND PAYMENT DEFERRAL
FROM THE IRS: The tax filing due date is extended from April 15 to July 15. All taxpayers -- individuals, corporations, other non-corporate filers and those who pay self-employment tax -- can also defer income tax payments. See www.irs.gov/coronavirus
FROM THE MSCPA: The U.S. Treasury Department and Internal Revenue Service (IRS) issued guidance that allows all individual and non-corporate filers to defer up to $1 million of federal income tax (including self-employment tax) payments until July 15, 2020, without penalties or interest. It also allows corporate taxpayers to defer up to $10 million of federal income tax payments until July 15, 2020, without penalties or interest.
Please check for updates on our Coronavirus Resource Center and in the HUB, our online community. The Department of Revenue has committed to offering the same relief as the Treasury, and we will keep you informed on any changes or developments.
Financial Assistance Available for Provincetown Families through the John A. Henry Trust
Year-round Provincetown residents with children, ages birth to 18 years living in the home, may be eligible for financial assistance from Provincetown’s John A. Henry Trust for Children. Assistance is offered to help cover the cost of housing, basic utilities, food, childcare, transportation and medical needs. Due to the recent Coronavirus outbreak, and the closure of Town Offices, applications may be obtained online at: www.capecodchildrensplace.com/provincetown-family-resource/ This will take you to the “Provincetown Family Resource” page. Scroll down and “Click here” to download and print out a copy of the application. OR you can have an application mailed to you by contacting Charlotte Fyfe, Family Support Consultant at: Charlottefyfe@comcast.net . Please include your name, mailing address, telephone number and email address in your request.
Applications are confidential and simple to complete. You must include proof of residency, and income information. Follow the instructions provided, and mail your completed forms to: Charlotte Fyfe, CCCP, PO Box 1935, North Eastham, MA 02651
All applications are reviewed promptly and will continue to be processed as long as funds remain available.
Restaurant Strong Fund
The Greg Hill Foundation, in partnership with Samuel Adams, has established a fund dedicated to helping Massachusetts restaurant workers who have been impacted by closures as a result of COVID-19. Their goal is to provide as many $1,000 grants as they can. To qualify for a grant, you must satisfy all requirements:
- Completed Application Form
- Full-time tipped compensated employee (Minimum of 30 hours total per week, can be multiple restaurants)
- Employed for 3 months or longer at the same location
- Worked in a restaurant, bar, cafe or nightclub located in Massachusetts
- Submit the last two pay stubs received
For more information and to apply for a grant, please visit the Greg Hill Foundation’s website.
Women of Fishing Families
Women of Fishing Families (WOFF)’s core mission is to assist fishing families in times of transition and unforeseen circumstances. Through their Fishing Community Fund, they offer emergency financial assistance, long-term financial planning, and help connect families with resources to to thrive at home and in their businesses.
With the support of the Chatham Fund of the Cape Cod Foundation, WOFF has developed a single application to help fishermen and their families reach out for help. Click here to view the application. For more information, please visit the WOFF’s website.
If you are a fisherman and need emergency financial help, please call Karen at (508) 274-2092. https://www.womenoffishingfamilies.org/fishing-community-fund
Through this Cape & Islands United Way link you can access the link to the Major Crisis Relief Fund, as well as a form for nonprofits to request immediate program assistance. https://www.capeandislandsuw.org/covid19.
Major Crisis Relief Fund for individuals: https://majorcrisisrelieffund.org/