COVID-19 Resources and Information

City of New Bedford COVID-19 Small Business Grant & Loan Program

The City of New Bedford will be offering grants of up to $10,000 in conjunction with matching financing through the NBEDC. Businesses may apply for up to $10,000 in grant funds under this loan program and grant funds must be matched dollar for dollar with a new NBEDC Loan with deferred payments.  The minimum grant amount is $5,000 maximum grant amount is $10,000.  The minimum loan amount is $5,000 and the maximum loan amount is $90,000.

Who is Eligible?

Businesses that are a microenterprise. HUD defines a microenterprise as a business with five employees or less at the time of application, one or more of whom owns the enterprise. In addition, the microenterprise business is owned by a low/moderate income person(s). In the instance that more than one person owns the microenterprise, the microenterprise must demonstrate that 51% of the owners are low/moderate-income persons. Income thresholds for microenterprises are contained in the application.

Businesses with low-moderate income employees. Businesses must certify a minimum of one low/moderate-income, full-time equivalent employee that would have otherwise likely lost employment without this funding will be retained. Income thresholds for low-moderate income employees are contained in the application.

Other eligibility requirements include:

  • Businesses established prior to September 1st 2019, have a physical location and be registered within the City of New Bedford, and have been adversely affected by COVID-19.
  • For-profit business applicants evidenced by providing business tax return filings.

How Can the Funds be Used?

The Program is designed to provide working capital for existing businesses to assist in surviving the unknown duration of and recovering from the COVID-19 crisis.

The following is a list of eligible uses of this capital:

  • Business lease or mortgage payments
  • Business utility payments
  • Business monthly debt payments
  • Business monthly insurance costs
  • Business payroll
  • Business inventory expenses
  • Other approved business fixed and operating expenses


 Who is Ineligible?

  • Businesses that are chains or franchises.
  • Nonprofit organizations.
  • Businesses including liquor and tobacco stores, pawn shops, adult entertainment establishments, passive real estate investments, or businesses that do not meet all local, state, and federal laws and restrictions.

Please download and read the complete program summary below. Please also download and complete the grant/loan application (includes a job retention or microenterprise acknowledgment form). Please email the completed application and all supporting documents to for submission. If you have any questions please email us at and an NBEDC team member will contact you directly.          


Funding is provided by the Office of Attorney General Maura Healey and COVID-19 Community Development Block Grant (CDBG) Program funding.

NBEDC Financial Assistance

In order to assist New Bedford small businesses experiencing COVID-19 hardships, the NBEDC has enacted the following measure for existing loan clients and those that may consider our small business loan program as a potential opportunity for relief.

How to Make Your Payment
For the well-being of our existing NBEDC lending clients and our staff, at this time we ask that you refrain from bringing payments into the office in person. For your convenience and ease of processing the NBEDC accepts Automated Clearing House (ACH) payments for all current loan customers. We encourage you to utilize this service to limit in person contact and to ensure your payment is applied in a timely manner. If you are not currently set up for ACH payment, please click the following link to download and complete the NBEDC ACH Payment Sign Up Request. Please email all completed requests to

For those unable to make ACH payments the NBEDC will continue to accept payments by mail. Please continue to mail in your regularly scheduled payment to:
New Bedford Economic Development Council, Inc.
1213 Purchase Street
New Bedford, MA 02740

Help Making Your Payment
If you are experiencing financial hardship and are unable to make your regularly scheduled payment please click the following link to download and complete the NBEDC Payment Modification Request Form. Please email all completed requests to Please note, you are required to make your regularly scheduled payment until notified by the NBEDC that your request has been processed and approved.

Hardship Loan Requests
For existing New Bedford businesses experiencing financial hardship that would like to request a new loan from the NBEDC please click here to download and complete NBEDC application and documents required. Please email all applications and supporting documentation to

To better serve those businesses adversely affected by COVID-19 pandemic the NBEDC is not accepting new loan requests for start-up businesses at this time.

Additional Economic Resources and Assistance

Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.  You should consult with your local lender as to whether it is participating in the program.  A full list of available lenders by zip code is available here.

Disaster Recovery Funds
SBA Disaster Recovery Funds are now available for eligible New Bedford businesses and non-profits. Small businesses can apply directly to SBA and the application is processed online via

State Assistance
The Massachusetts Growth Capital Corporation also offers a variety of financial products to meet the needs of small business.
Those services can be found here.

For assistance, New Bedford Businesses can contact John Santos, MGCC Senior Loan Officer at 617-337-2805 and

It is important for everyone to be aware of the facts of COVID-19 Coronavirus and the local and state networks sharing up to the minute information. The Massachusetts Department of Public Health has issued guidelines and recommendations for businesses and employers regarding the reduction of close contact in the workplace, such as:

  • Make telecommuting options available for as many employees as possible.
  • Discourage touching including shaking hands, hugging, etc.
  • Encourage good hygiene such as washing hands frequently, covering your cough with your elbow or a tissue, and regularly cleaning frequently touched surfaces and objects.
  • Urge employees to stay home when they are sick.
  • Be flexible with sick leave benefits for those who are ill or who are recommended to stay home because they are high risk.
  • For businesses in which telecommuting is not an option or for particular duties that cannot be performed remotely, follow the other steps above to limit close contact, and prevent the spread of disease.
  • Increase routine environmental cleaning.

Helpful Links for COVID-19 Information

Please be aware this situation remains fluid and changes to local, state, and federal policies can happen at any time. The following links are the best sources for up-to-date information:


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