CORONAVIRUS: Forgivable Loans for Small Businesses and Employees
The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.
- A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan.
- If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.
- For more information on how to apply for loan forgiveness please click here.
The Small Business Administration (SBA) also provides additional programs for small businesses. Click here for additional information.
Local resources to help advise Massachusetts businesses:
- Massachusetts Small Business Development Center Network
- Center for Women & Enterprise - Eastern Massachusetts
- Center for Women & Enterprise - Central Massachusetts
- SCORE Boston Chapter
- SCORE Worcester Chapter
- SCORE Northeastern Massachusetts Chapter
- SCORE Southeastern Massachusetts Chapter
- SCORE Western Massachusetts Chapter
- SCORE Cape Cod Chapter
- SCORE Rhode Island (Serving Fall River, New Bedford)