Gov. Charlie Baker announced the creation of a $10 million loan fund for small businesses on Monday afternoon, making the funding available immediately for any employers with fewer than 50 full- and part-time employees.
Baker detailed the step after meeting with House Speaker Robert DeLeo and Senate President Karen Spilka for more than two hours. Businesses can access up to $75,000, and will not be required to make any payments for the first six months.
The governor said the availability of the emergency small business loans is similar to steps the government took during the winter of 2015 and after the Merrimack Valley gas explosions in 2018.
More to come.
