The MA Emergency Management Agency (MEMA) and Baker-Polito Administration are working closely with the U.S. Small Business Administration to activate the Economic Injury Disaster Loan (EIDL) program to provide assistance to eligible businesses and non-profits impacted by COVID-19.
 
The EIDL program will provide small businesses with working capital loans of up to $2 million to help meet financial obligations and operating expenses until normal operations resume.
 
These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
 
The 1st step in this process is to meet a minimum threshold of affected businesses within Massachusetts.
 
Affected small businesses and non-profits should download, complete, and submit the SBA EIDL Worksheet (https://lnkd.in/ewF7VBy) & Instructions to expedite activation of the EIDL program. Please note, this initial survey form is not an SBA loan application.
 
Completed forms can be submitted by email to [email protected] or by fax to (508) 820-1401. If you do fax the form, please include your email. 
 
When the EIDL program is activated, you will be contacted to apply directly to the SBA and this website will be updated with application details. For questions, please contact [email protected]
 
Please contact Jim Giammarinaro at the Chamber if you are experiencing any issues with the process of applying for this loan. He can be reached at 508-879-5600 or by email at [email protected]