SBA extends pandemic emergency relief deadline to end of 2021
Photo | Grant Welker
The Chateau, a restaurant on Route 9 in Westborough, has closed for good.
The U.S. Small Business Administration has extended the deadline for companies to file for pandemic disaster relief until the end of 2021, it said Wednesday.
The extension comes as a result of a new coronavirus pandemic relief bill signed into law Sunday extending the federal program first enacted in the spring.
Businesses will now have through the end of the coming year to apply for the federal Economic Injury Disaster Loan program. The SBA has approved more than 3.6 million loans through the program totaling $197 million, it said.
The extra funding for the EIDL program is part of the CARES Act, enacted early during the pandemic to help businesses make it through a disruptive period when many have been forced to stay home. Another well known aspect of the CARES Act, the Paycheck Protection Program, offered loans that in many cases didn't need to be repaid if they were used to keep workers on the job.
In Central Massachusetts, 346 firms received at least $1 million in PPP funds, and 20 received at least $5 million. Two received the maximum of $10 million: Sweeney Drywall Finishes Corp. of Boxborough and PR Restaurants of Framingham, a Panera Bread franchisee with 61 New England locations. Assumption University in Worcester, Quiet Logistics in Devens and 16 others were given at least $5 million.
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