BOSTON (WBZ NewsRadio) — Gov. Charlie Baker has announced the creation of a $10 million fund for small businesses in Massachusetts affected by the spread of COVID-19.
"The fund will provide emergency capital of up to $75,000 for Massachusetts businesses with under 50 full-time and part-time employees, and that does include non-profits," Baker said. "Loans are available immediately, with no payments due for the first six months."
The Massachusetts Growth Capital Corporation will administer the loans and process all applications related to it. You can find more information and applications on their website, empoweringsmallbusiness.org.
Gov. Baker said he also filed legislation to allow new unemployment claimants to be paid more quickly, waiving the one-week waiting period.
"There's no question everybody's feeling the impact of the coronavirus at this point, and it is certainly tremendously disruptive to our daily lives," Baker said. "Whether your kids are home from school, or you're going to miss grabbing a meal at your favorite neighborhood restaurant this weekend, we're all adjusting to these circumstances. But I think it’s important to remember why: our public health professionals believe by taking these serious actions now, we can mitigate the spread of coronavirus and help protect our most vulnerable population.”
WBZ NewsRadio's Karyn Regal (@Karynregal) reports