Business Assistance During The Health Emergency

The city, state and federal goverments are offering assistance and relief during this Health Emergency.  Here are some of the latest available resources:

Low Interest Federal Disaster Loans

The U.S. Small Business Administration (SBA) will offer low-interest federal Economic Injury Disaster Loans for working capital to Berkshire County small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).  The deadline to apply for an Economic Injury Disaster Loan is Dec. 18, 2020.

• Small businesses are businesses that have no more than 500 employees.
• Eligible companies include 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.
• Loans may be for up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. Specific eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19).
• Interest rates are:
  • 3.75% percent for small businesses.
  • 2.75% for private non-profit organizations is 2.75 percent.
  • Repayment term is up to 30 years.

Please refer to the Fact Sheet – SBA Economic Injury Disaster Loans for details and any updated information.  Apply on-line here or call the SBA’s Customer Service Center at 800-659-2955 or via email [email protected]. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.

Tax Relief

Governor Baker has filed Emergency Orders to provide tax relief to Small Businesses that have been affected by COVID-19. See below for information on tax relief measures:

Sales & Use Tax

• Applies to vendors with a cumulative liability of $150,000 or less for the 12 month period ending Feb. 29, 2020. Those with returns and payments due between March 20 and May 31, 2020 shall be suspended until June 20, 2020. This does not apply to Marijuana vendors.
• Click here for more info

Room Occupancy Use Tax

• Applies to occupancy operators with a cumulative liability of $150,000 or less for the 12 month period ending Feb. 29, 2020. Returns and payments, including local options, due between March 20 and May 31, 2020 shall be due until June 20, 2020. This does not apply to intermediaries.
• Click here for more info

Meals Tax & Room Occupancy Excise

• Late File and Late Pay Penalties will be waived for meals vendors, operators, and intermediaries that do not qualify for the relief mentioned above under “Room Occupancy Excise for operators.
• To be eligible for a penalty waiver, vendors, operators and intermediaries must file their returns and remit payments on or before June 20, 2020.
• This is a waiver of penalties only, statutory interest will continue to accrue
• Click here for more info

Local Resources

Through a partnership WesternMass Business Technical Assistance Collaboration, please use this spreadsheet as a resource for Small Business Assistance.

The spreadsheet contains WesternMass’ list of business resources for Hampden, Hampshire, Franklin, and Berkshire Counties. The list is meant to provide businesses in WesternMass a list of online trainings and webinars for Businesses.