Paycheck Protection Program Reopened

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday,…

Details on New Small Business Relief Grants

Last week, the Commonwealth announced a $668 million small business relief package to be administered by Massachusetts Growth Capital Corporation (MGCC). This package provides additional funding for the existing small business relief program which originally launched in October and additional funding for businesses that fall into specific industry sectors. Existing Small Business Grant Program MGCC…

Commonwealth Announces $668 Million Small Business Relief Package

Today, the Commonwealth launched a $668 million program to provide financial assistance to Massachusetts small businesses impacted by the COVID-19 pandemic. The program in part relies on the pending federal COVID-19 relief bill recently passed by Congress. Regardless of the developments at the federal level, the Commonwealth will start releasing millions in new funding to…

Massachusetts Legislature Passes Balanced FY2021 Budget

Last week, I voted along with my colleagues in the Massachusetts Legislature to pass a Fiscal Year 2021 (FY21) budget, which invests in programs and services across the Commonwealth. Funded at $46.2 billion, the budget aims to address the sweeping effects of the global pandemic by making targeted investments in housing, food security, and substance use…

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