Coronavirus (COVID-19): Relief options and Additional Resources

Success Stories

Economic Injury Loans from Last Year’s Extreme Winter Weather Still Available until February 15th 

The 2014-2015 winter season shattered snow total records all throughout New England, reaching an all-time total of 108.6 inches in Boston.  A polar vortex blanketed the region, coupling the snowfall with extreme cold temperatures – that all but crippled Commonwealth small businesses.  The weight of the snow accumulating on top of buildings destroyed businesses beyond recovery – some businesses survived, some did not.   

Leominster-based Shancakes is one of the resilient businesses that turned to SBA’s Economic Injury Disaster Loan program for a lifeline to get through these historically tough times.  Owner Shannon Sylvia recalled, “My staff and I still needed to work – I was still expected to make payroll, even though our walk-in business was greatly affected.” 

In the retail bakery business – shelves must be stocked with fresh baked goods every day, in case of... Read More

Federal grants for starting a business do not exist -- but there are certain grants for growing a business and other initiatives that help achieve specific agency agendas. For example, in order for America to be competitive globally -- the SBA administers grants for small businesses conducting scientific research & development and innovation in high-tech (SBIR/STTR). Government grants are very competitive and have strict rules for what the funds can be used for.  The STEP (State Trade and Export Promotion) grant originated because of the Small Business Jobs Act of 2010.  Part of this law builds on the President’s National Export Initiative, supporting and promoting American companies to grow sales outside the United States and create jobs – which is why we have the STEP program.

Westborough, Massachusetts-based EMSEAL took full advantage of SBA’s STEP program in 2013 -- using a 10K grant to fund a trade mission to the United Kingdom and a targeted print media campaign to... Read More

Taishan is a coastal city along the southern province of Guangdong, China -- where an estimated half-million Chinese Americans are descendants.   Many of these early Taishanese settlers who helped build the Chinatowns across America, were gritty entrepreneurs just like Wesley Huang.    

In 1984, Huang immigrated from Taishan to New York City as a teenager and took a leap of faith that forced him to get up to speed with a new language and new culture, in a big city.  He benefited from a Manhattan education, graduating from Seward Park High School and then City College of New York where he developed a passion for software engineering.  While in school gaining practical skills that landed him a job, he also worked part-time in a restaurant supply store, gaining niche industry expertise and contacts -- which would turn out to be the seeds planted for his future success. 

After graduating from CCNY in 1995, Huang found a job working as a software engineer -- but was... Read More

In 1995, Steffen Root and David Clark were just two very young guys working in a small bike shop in the Kmart Plaza in Great Barrington, MA.  A few years later, they trusted their instincts and bought the shop with the encouragement of the owner. They worked hard to develop their business working in such a cramped space.  Eventually they developed a loyal following attracting a committed group of bike enthusiasts.

After a few years and with the help of an SBA 504 loan, they bought a centrally located site on busy Route 7 in Great Barrington, built a building, and in 2007 moved into what they thought at the time was a cavernous space. And which now is busting at the seams with bikes and customers. To help alleviate this, they added additional storage space by renting an adjacent garage, and then latter, renting 3,000 square feet of storage at an off-site barn.

Over the years, Steffen and David kept their eyes open to opportunities to expand their business and diversify... Read More