Help for Local Business Communities
Dear Saugus Business Community,
In an effort to support local businesses, the Town of Sauguswill be providing elevant updates as soon information becomes available. The Town’s Planning and Economic Development Department, will be the point of contact for the business community. The following is a compilation of information from federal, state and local resources and tools to support businesses in response to economic impacts of COVID-19. The Department will work on and to reach out, innovate, and provide the most up to date information for our local businesses.
During this time, if there are specific business-related questions or needs, please let the toen know so we can contunie to seek and provide information and support. The Town's Planning and Economic Development Department can be contacted at:
- Christopher Reilly, Director, creilly@saugus-ma.gov, 781-231-4044
- Alex Mello, Senior Planner,amello@saugus-ma.gov,781-231-4045
Local Assistance
- Town of Saugus Microenterprise Assistance Program - The Town of Saugus, through the Planning and Economic Development Department, will be administering funds from the Community Development Block Grant COVID-19 (CDBG-CV) to assist eligible businesses of five employees or fewer. Click the above link for more information on eligible businesses types.
State Assistance
- Massachusetts’s COVID-19 Resources and Guidance.
- Massachusetts Unemployment Assistance Benefit Programs
- Massachusetts MassHire is a state entity that provides connections between businesses and jobseekers though a statewide network of employment professionals. If you are business who needs to hire additional employees to meet business demand or if you are a worker looking for employment and assistance, MassHire can provide services to meet your needs.
- MassHire for employers: https://www.mass.gov/topics/masshire-for-businesses
- MassHire for workers: https://www.mass.gov/topics/masshire-for-jobseekers
- Massachusetts Rapid Response Program (Pre-Layoff Intervention)
- For companies and employees experiencing a layoff or closing, the Massachusetts Department of Career Services uses a Rapid Response team to identify exact needs of a company in crisis and help the company establish partnerships with other organizations and networks to try to reduce the possibility of layoffs or closure. The Rapid Response Program provides support for employers and staff during a difficult business closure transition.
- Massachusetts Workshare Program (Layoff Prevention)
- For employers who are interested in avoiding layoffs, this program is an alternative for employers faces with a cut 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. This program helps employers avoid layoffs and helps employees to avoid full unemployment. WorkShare also allows employers to:
- Increase cash flow
- Keep skilled, trained workers
- Reduce future hiring and retraining costs
- Avoid disruption in business operations
- Be prepared for future business growth
- Maintain worker productivity
- For employers who are interested in avoiding layoffs, this program is an alternative for employers faces with a cut 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. This program helps employers avoid layoffs and helps employees to avoid full unemployment. WorkShare also allows employers to:
- Massachusetts Attorney General’s Office - The AG’s Office joined a coalition of law firms, nonprofits, and government agencies to launch the COVID Relief Coalition to provide vulnerable businesses and mission-driven organizations with pro bono legal support. Visit the AG’s COVID-19 resource page for information about how the AG’s Office can provide support.
Federal Assistance
- U.S Small Business Administration (SBA) has a series of relief options for businesses affected by the COVID-19 pandemic. Please check their website often as some relief options may expire and new ones become available.
·NOAA Fisheries Funding - The U.S. Department of Commerce National Oceanic and Atmospheric Administration (NOAA) Fisheries will provide $300M in federal CARES Act funding for fishery participants affected by COVID-19. Massachusetts has been allocated $28M of this funding to support coastal and marine fisheries.
Congressman Seth Moulton’s Business Resource Guide
General Resources
- Commonwealth of Massachusetts’s COVID-19 Resources and Guidance
- The Enterprise Center at Salem State University is an entrepreneurial hub that offers business owners office space, education, and access and connections to small business resources. The Center serves entrepreneurs on the North Shore and beyond.
- The Mass Growth Capital Corporation helps small businesses in Massachusetts. For more than 40 years, MGCC and its predecessors have helped thousands of businesses in the Commonwealth through financing and managerial assistance, access to business resources, and individualized service to identify and structure solutions tailored to each small business.
Community Assistance
- National Grid is currently offering a number of assistance programs and deferred payment options for their customers. The utility has created a list of national and state resources and programs to support their business customers impacted by the COVID-19 pandemic. For more information, please visit their respective pages for their gas and electric customers.
- Local Banks and Credit Unions - If you are a customer of a local bank or credit union, please speak with financial institution to ask about flexible payment options or loan information. The Division of Banks is encouraging financial institutions to work with affected customers and communities because such efforts serve the long-term interest of communities and the financial system. Some local financial institutions are offering the following to all customers:
- Loans
- Flexible payment options on a case-by-case basis
- Increasing ATM daily cash withdrawal limits
- Easing restrictions on cashing out-of-state and non-customer checks
- Increasing credit card limits for creditworthy borrowers
- Offering payment accommodations, such as allowing borrowers to defer, or skip some payments, or extend the payment due day, which would avoid delinquencies and negative credit bureau reporting caused by COVID-19 related disruptions on a case-by-case basis.
- Waiving the following types of fees such as: ATM fees for customers and non-customers; Overdraft fees; Late payment fees on credit cards and other loans; and, Early withdrawal penalties on time deposits.