Individuals who are temporarily unemployed due to lack of work because of COVID 19 are eligible for unemployment benefits. The individual will be considered unemployed due to lack of work regardless of whether the individual’s workplace is partially or completely shut down or if the individual needs to stay home for any reason related to COVID 19.
To fulfill the requirements to be able, available and actively seeking work, the individual need only take reasonable measures to maintain contact with his or her employer, and to be available for hours offered by the employer.
Claimants will be presumed to be eligible for eight weeks of standby status. In those instances, the employer need not respond that the claimant is on standby.
Read the Guidelines Sheet here.
U.S. Chamber Launches New “Path Forward” Program to Lead National Conversation on How America Can Return to Work
The U.S. Chamber of Commerce announced the“Path Forward” program, an initiative to address how Americans and businesses can return to work safely, successfully, and sustainably.
The program includes a comprehensive framework of considerations, an event series that will feature diverse viewpoints from the public and private sectors, and recommendations on the practices and policies needed to begin a phased process to bring the full American economy back to work.
The Chamber, through its membership of small, medium, and large companies, as well as its network of state, local, and international chambers and associations, has an unmatched perspective encompassing all sectors of the economy and all corners of our nation. This diversity of viewpoints will contribute to the ongoing national conversation and ultimate recommendations for the Path Forward program.
Since the outbreak of the coronavirus, the Chamber has vigorously advocated for fast action on legislation to provide employers, employees, and families with much-needed financial assistance, including the successful passage of the CARES Act. The Chamber also has hosted more than 200 virtual sessions with tens of thousands of small businesses, as well as big companies and their small business suppliers and customers, to hear first-hand about the impact of the virus and provide guidance on what aid is available and how to access it.
“This pandemic is upending every way of life, including how businesses operate and care for employees and communities. As we adjust to this new reality, we must understand that many laws and regulations were designed for a different time and place, and today they could significantly hamper– or even contradict– recovery efforts,” U.S. Chamber President Suzanne Clark said. “How America reopens will be the result of unprecedented coordination between business and government, and the planning must begin now. We need new processes and rules that reflect the realities of the pandemic.”
In a letter sent to members, national associations, and state and local chambers across the country today, the U.S. Chamber of Commerce outlined the following key considerations:
“How our nation’s public and private sectors manage this transition will determine how quickly we can stage an economic comeback and help families overcome financial hardship,” Clark said. “We need a roadmap to reinvigorate our economy and a renewed sense of public safety and confidence.”
Path Forward Virtual Event Series
Additionally, the U.S. Chamber of Commerce Foundation launched a new online series called Path Forward to supplement and inform the Chamber’s work. Each episode of Path Forward will feature experts sharing their perspectives on the complex issues involved in a responsible reopening strategy. The first program will focus on the state of the pandemic, potential scenarios for reopening, and lessons America can learn from businesses in other parts of the world.
The series launches Monday, April 13 at 3:00 p.m. ET with Dr. William Hanage, Associate Professor of Epidemiology at the Harvard T.H. Chan School of Public Health. Register here: https://cvent.me/ebg2E0.
Future programs, which will occur on Mondays and Thursdays from 3:00 p.m. to 4:00 p.m. EST, for the next several weeks will cover barriers to reopening, such as childcare and transit; complex questions about immunity and liability; and ways employers can incorporate screening, social-distancing, and other novel approaches into the workplace.
Since the onset of the pandemic, the U.S. Chamber has tried to help mitigate the impact of the coronavirus by equipping businesses with tools, resources, and information to help them navigate the many challenges of the pandemic in real time. The Chamber’s resources have been downloaded two million times, and tens of thousands of small businesses and nonprofits have joined online townhall events dedicated to helping them survive this unprecedented health and economic crisis.
To learn more about the Chamber’s efforts in response to the coronavirus pandemic, please visit www.uschamber.com.
About the U.S. Chamber of Commerce
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
About the U.S. Chamber of Commerce Foundation
The U.S. Chamber of Commerce Foundation is dedicated to strengthening America’s long-term competitiveness. We educate the public on the conditions necessary for businesses and communities to thrive, how business positively impacts communities, and emerging issues and creative solutions that will shape the future.
Bristol County Savings Bank, headquartered in Taunton, Massachusetts, presented a $10,000 grant to the South Eastern Economic Development (SEED) Corporation for its loan reserve fund at a ceremony held recently at SEED’s office also in Taunton. Specifically, the grant went toward SEED’s SBA Micro Loan Program which provides gap loans up to $50,000 to small businesses whose owners and 50 percent of its employees meet the Low to Moderate Income Criteria. The loans are made for startups and new and existing small businesses who cannot meet traditional bank credit criteria.
As a regional nonprofit economic development corporation certified by the U.S. Small Business Administration, SEED Corporation focuses on job creation by financing all types of small businesses in Massachusetts and Rhode Island. Each year, SEED makes an average of 120 loans and provides technical assistance to over 1,500 existing and prospective entrepreneurs.
“The Bank continues to enjoy a strong partnership with SEED, its lenders and the SBA, all working together to create jobs and grow our regional economy during these uncertain times,” said John Silva, Executive Vice President & Chief Lending Officer, Bristol County Savings Bank. “We are thrilled to provide this grant which will help finance small businesses with SEED’s innovative loan products.”
Bristol County Savings Bank Background Information:
Bristol County Savings Bank, a state-chartered savings bank and the wholly-owned subsidiary of Beacon Bancorp, is a full-service banking institution with approximately $2.3 billion in assets as of October 31, 2019. Founded in 1846, Bristol County Savings Bank has expanded its branch network to include 16 full-service offices in Attleboro, Dartmouth, East Freetown, Fall River, Franklin, New Bedford, North Attleboro, Raynham, Rehoboth and Taunton, Massachusetts, and Pawtucket, Rhode Island as well as a Loan center in Warwick, Rhode Island. The Bank also operates limited service educational branches at Taunton and Attleboro High Schools. In addition to traditional banking services, Bristol County Savings Bank offers wealth management services through its affiliate Bristol Wealth Group, as well as insurance services through its affiliate FBinsure, one of the region’s largest property and casualty insurance agencies. The Main Office and Corporate Headquarters of Bristol County Savings Bank are located on Broadway in Taunton, Massachusetts. For more information on Bristol County Savings Bank, visit www.bristolcountysavings.com.
Chairman Richard L. Lafrance announced today that Anne P. Tangen has been appointed as the President of BankFive effective April 6, 2020.
Mr. Lafrance said, “BankFive’s Selection Committee conducted a thorough search for the next leader of BankFive. We have confidence that Anne’s knowledge, expertise, and experience makes her the one best suited to lead BankFive into this new chapter. Anne is a Southcoast resident with strong ties to the community we serve.”
“I am very excited to join BankFive“ said Anne P. Tangen. “I look forward to leading a financial institution with a long-standing history of community focused banking and a dedication to serving people and businesses in the Southcoast.”
Tangen comes from The Cooperative Bank of Cape Cod where she was the Chief Operating Officer and Chief Information Officer. There her responsibilities ranged from overseeing the bank’s technology, security, project management, bank operations and customer assistance. Prior to that she held a variety of positions at both Fidelity Investments and State Street Bank. Tangen is a graduate of the University of Vermont with a BA in Economics.
Over the next several months, Tangen will transition to President and CEO, replacing William R. Eccles, Jr. who will retire this summer after five decades of dedicated service at BankFive.
“Anne brings talent, expertise and strong leadership to BankFive,” said William R. Eccles, Jr., President & CEO at BankFive. “We are extremely fortunate to have her on our team, to continue to strengthen our commitment to providing financial solutions to the communities we serve.”
Since 1855, BankFive has been serving the communities of the SouthCoast with a steadfast commitment to provide local individuals, families and businesses with outstanding products and services designed to meet their financial needs. With 16 offices located throughout Massachusetts and Rhode Island, BankFive is one of the top regional banks. For more information, go to www.bankfive.com.
Health Express with Morton Hospital hope you and your families are staying safe and are feeling well during these difficult times.
Our goal, at all times, is to provide our patients with high quality, convenient, cost effective care. We understand that with recent events there is reservation to utilize healthcare facilities. Thus, we have responded by developing a new way to deliver superior care to our patients in need, using our emergency room trained providers – virtual visits!
We are now able to deliver virtual visits with a Health Express provider for most urgent care problems, including potential COVID-19 symptoms. To be connected with a provider for a visit click here
Current hours of operation are Monday-Friday 9am to 5pm and Saturday-Sunday 9am to 2pm. You may also visit our web site at www.healthexpressraynham.com for more information.
Visits conducted virtually will still be delivered with the superior level of care that Health Express with Morton Hospital has provided to our patients for the last six years.
*UPDATE*4/13/20 - the SBA is reporting that there have been over 941,000 applications approved totaling over $228 billion, and nearly 4600 lending institutions.
Frequently Asked Questions
The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act).
19. Question: Do lenders have to use a promissory note provided by SBA or may they use their own?
Answer: Lenders may use their own promissory note or an SBA form of promissory note.
20. Question: The amount of forgiveness of a PPP loan depends on the borrower’s payroll costs over an eight-week period; when does that eight-week period begin?
Answer: The eight-week period begins on the date the lender makes the first disbursement of the PPP loan to the borrower. The lender must make the first disbursement of the loan no later than ten calendar days from the date of loan approval.
21. Question: Do lenders need a separate SBA Authorization document to issue PPP loans?
Answer: No. A lender does not need a separate SBA Authorization for SBA to guarantee a PPP loan. However, lenders must have executed SBA Form 2484 (the Lender Application Form for the Paycheck Protection Program)3 to issue PPP loans and receive a loan number for each originated PPP loan. Lenders may include in their promissory notes for PPP loans any terms and conditions, including relating to amortization and disclosure, that are not inconsistent with Sections 1102 and 1106 of the CARES Act, the PPP Interim Final Rule and guidance, and SBA Form 2484.
22. Question: I am a non-bank lender that meets all applicable criteria of the PPP Interim Final Rule. Will I be automatically enrolled as a PPP lender? What criteria will SBA and the Treasury Department use to assess whether to approve my application to participate as a PPP lender?
Answer: We encourage lenders that are not currently 7(a) lenders to apply in order to increase the scope of PPP lending options and the speed with which PPP loans can be disbursed to help small businesses across America. We recognize that financial technology solutions can promote efficiency and financial inclusion in implementing the PPP. Applicants should submit SBA Form 3507 and the relevant attachments to NFRLApplicationForPPP@sba.gov. Submission of the SBA Form 3507 does not result in automatic enrollment in the PPP. SBA and the Treasury Department will evaluate each application from a non-bank or non-insured depository institution lender and determine whether the applicant has the necessary qualifications to process, close, disburse, and service PPP loans made with SBA’s guarantee. SBA may request additional information from the applicant before making a determination.
23. Question: How do the $10 million cap and affiliation rules work for franchises?
Answer: If a franchise brand is listed on the SBA Franchise Directory, each of its franchisees that meets the applicable size standard can apply for a PPP loan. (The franchisor does not apply on behalf of its franchisees.) The $10 million cap on PPP loans is a limit per franchisee entity, and each franchisee is limited to one PPP loan. Franchise brands that have been denied listing on the Directory because of affiliation between franchisor and franchisee may request listing to receive PPP loans. SBA will not apply affiliation rules to a franchise brand requesting listing on the Directory to participate in the PPP, but SBA will confirm that the brand is otherwise eligible for listing on the Directory.
24. Question: How do the $10 million cap and affiliation rules work for hotels and restaurants (and any business assigned a North American Industry Classification System (NAICS) code beginning with 72)?
Answer: Under the CARES Act, any single business entity that is assigned a NAICS code beginning with 72 (including hotels and restaurants) and that employs not more than 500 employees per physical location is eligible to receive a PPP loan. In addition, SBA’s affiliation rules (13 CFR 121.103 and 13 CFR 121.301) do not apply to any business entity that is assigned a NAICS code beginning with 72 and that employs not more than a total of 500 employees. As a result, if each hotel or restaurant location owned by a parent business is a separate legal business entity, each hotel or restaurant location that employs not more than 500 employees is permitted to apply for a separate PPP loan provided it uses its unique EIN. The $10 million maximum loan amount limitation applies to each eligible business entity, because individual business entities cannot apply for more than one loan. The following examples illustrate how these principles apply.
Example 1. Company X directly owns multiple restaurants and has no affiliates.
• Company X may apply for a PPP loan if it employs 500 or fewer employees per
location (including at its headquarters), even if the total number of employees
employed across all locations is over 500.
Example 2. Company X wholly owns Company Y and Company Z (as a result,
Companies X, Y, and Z are all affiliates of one another). Company Y and Company Z each own a single restaurant with 500 or fewer employees.
• Company Y and Company Z can each apply for a separate PPP loan, because
each has 500 or fewer employees. The affiliation rules do not apply, because
Company Y and Company Z each has 500 or fewer employees and is in the food
services business (with a NAICS code beginning with 72).
Example 3. Company X wholly owns Company Y and Company Z (as a result,
Companies X, Y, and Z are all affiliates of one another). Company Y owns a restaurant with 400 employees. Company Z is a construction company with 400 employees.
• Company Y is eligible for a PPP loan because it has 500 or fewer employees.
The affiliation rules do not apply to Company Y, because it has 500 or fewer
employees and is in the food services business (with a NAICS code beginning
• The waiver of the affiliation rules does not apply to Company Z, because
Company Z is in the construction industry. Under SBA’s affiliation rules, 13
CFR 121.301(f)(1) and (3), Company Y and Company Z are affiliates of one
another because they are under the common control of Company X, which wholly owns both companies. This means that the size of Company Z is determined by adding its employees to those of Companies X and Y. Therefore, Company Z is deemed to have more than 500 employees, together with its affiliates. However, Company Z may be eligible to receive a PPP loan as a small business concern if it, together with Companies X and Y, meets SBA’s other applicable size standards,” as explained in FAQ #2.
25. Question: Does the information lenders are required to collect from PPP applicants regarding every owner who has a 20% or greater ownership stake in the applicant business (i.e., owner name, title, ownership %, TIN, and address) satisfy a lender’s obligation to collect beneficial ownership information (which has a 25% ownership threshold) under the Bank Secrecy Act?
Answer: For lenders with existing customers: With respect to collecting beneficial ownership information for owners holding a 20% or greater ownership interest, if the PPP loan is being made to an existing customer and the lender previously verified the necessary information, the lender does not need to re-verify the information. Furthermore, if federally insured depository institutions and federally insured credit unions eligible to participate in the PPP program have not yet collected such beneficial ownership information on existing customers, such institutions do not need to collect and verify beneficial ownership information for those customers applying for new PPP loans, unless otherwise indicated by the lender’s risk-based approach to Bank Secrecy Act (BSA) compliance.
For lenders with new customers: For new customers, the lender’s collection of the following information from all natural persons with a 20% or greater ownership stake in the applicant business will be deemed to satisfy applicable BSA requirements and FinCEN regulations governing the collection of beneficial ownership information: owner name, title, ownership %, TIN, address, and date of birth. If any ownership interest of 20% or greater in the applicant business belongs to a business or other legal entity, lenders will need to collect appropriate beneficial ownership information for that entity.
If you have questions about requirements related to beneficial ownership, go to
https://www.fincen.gov/resources/statutes-and-regulations/cdd-final-rule. Decisions regarding further verification of beneficial ownership information collected from new customers should be made pursuant to the lender’s risk-based approach to BSA compliance. >>> continue with FAQs
More on Paycheck Protection Program
PPP Bank Locator
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TFCU (Taunton Federal Credit Union) is proud to continue to support the communities we serve throughout the COVID-19 pandemic. As an approved lender for the Payroll Protection Program under the CARES Act, TFCU has processed over $1 million in loans to local small businesses in need of assistance during this time. The Payroll Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs, including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. For more information, please visit www.tauntonfcu.com/payrollprotection. Completed applications can be submitted to Gary Hays, TFCU’s Commercial Lending Specialist via e-mail at firstname.lastname@example.org.
In addition to the Payroll Protection Program, TFCU has committed $250,000 in emergency loans to our membership who might be facing financial hardship at this time. Two hardship programs were recently introduced, including a special loan available for First Responders & Medical Professionals on the front lines of this ongoing situation. For more information, or to apply for one of these programs, please visit www.tauntonfcu.com/covid19.
Martignetti Companies, New England’s leading distributor of fine wines and spirits, has committed $250,000 in charitable contributions to both local and national organizations to support and assist restaurant industry employees experiencing hardship during the coronavirus (COVID-19) crisis. Of the $250,000 contribution, $120,000 will be dispersed to both the local and national charitable organizations outlined below. The additional $130,000 has been pledged for disbursement among charities with meaningful missions to support hospitality workers.
The hospitality industry has experienced exceptional hardship, due to the coronavirus outbreak. The turmoil and unpredictability generated through COVID-19 has resulted in the closure of bars, restaurants, and venues throughout Massachusetts and New England. Martignetti Companies recognizes the importance of supporting the vital members of our industry most in need during this time both on a national and local level.
Locally, Martignetti Companies has donated $50,000 to The Greg Hill Foundation’s Restaurant Strong Fund, which supports individuals from the restaurant industry who have been impacted by the COVID-19 closures. Also, Martignetti Companies donated $20,000 to The New Hampshire Lodging & Restaurant Foundations’ Hospitality Employee Relief Fund, which was built by the New Hampshire Lodging & Restaurant Association (NHLRA) and the New Hampshire Lodging & Restaurant Association Education Foundation to support employees of the hospitality industry who have been impacted by COVID-19.
Nationally, Martignetti Companies has committed $50,000 to The National Restaurant Association Educational Foundations’, ‘Employee Relief Fund,’ which supports restaurant workers impacted by COVID-19. This fund is operated by the NRAEF, whose mission is to attract, empower, and advance today’s and tomorrow’s restaurant and foodservice workers.
“The hospitality industry plays a vital role in our communities, providing us with a place to gather with friends and family,” Mark Fisher, President of Martignetti Companies emphasizes. “Their importance to our organization, as the face of the beverage industry to the consumer, cannot be understated. Each of the charities that we have selected has demonstrated their ability to immediately and effectively provide vital support to restaurant workers in our community. We are grateful to be able to support them in this time of need.”
About Martignetti Companies:
Established in 1908, Martignetti Companies is the leading distributor of wine and spirits in New England and the 7th largest in the country. Based in Taunton, Massachusetts, Martignetti Companies currently has direct sales operations in five New England markets: Massachusetts, Rhode Island, New Hampshire, Vermont and Maine. Additionally, it has a national presence through its’ import company, Vision Wine & Spirits. For more information, visit Martignetti.com
If you missed the April 9 town hall zoom session with Congressman Kennedy, view the recording below. If you have a question that wasn't discussed, please email us.
The Mechanics Cooperative Bank Board of Directors and Executive Leadership Team are proud to report our business lending team was hard at work this entire weekend supporting our small business customers and the local small business community as a whole. We are proud to report that we have underwritten 170 Small Business Loans totaling over $39 Million under the guidance of the CARES Act Paycheck Protection Program.
"I am so proud of our team here at Mechanics for their hard work and dedication throughout this past weekend, in direct support of the emergency lending needs of our local small business community." said Joseph T. Baptista Jr., President and CEO of Mechanics Cooperative Bank. "Providing guidance, great customer service and the resources small businesses need - this is exactly what community banking is all about and why I feel we are the cornerstone of our local economy. It’s during times like this, seeing our team work selflessly for the greater good of the small business community, I know we will all make it through this together."
The Paycheck Protection Program is one of the many provisions in the CARES Act that was recently passed by Congress to help address the economic fallout from COVID-19. This provision aims to help small businesses and millions of Americans who rely on them for jobs.
Under the Paycheck Protection Program, small businesses with 500 or fewer employees can apply for a loan through an existing SBA lender like Mechanics Cooperative Bank. These loans can be used for payroll costs, business expenses, rent, and utilities.
This program is a major boost for our nation, and our local small business community. It provides an incentive to retain employees while providing much needed financial relief for payroll and other business expenses.
There are many important elements to understand if your small business is considering the Paycheck Protection Program. If you are a small business owner and need additional information, it’s important to consult with your banking and tax ad visors to determine which option is right for you.
More detailed information can be found on the Bank’s COVID-19 information page at https://mechanics-coop.com/about-us/coronavirus/.
Please call us at 1-888-MECHANICS (632-4264) or reach us via email at email@example.com with any questions regarding the Paycheck Protection Program or for additional support. About Mechanics Cooperative Bank
With total assets over $600 million, Mechanics Cooperative Bank offers a wide variety of personal and business deposit and loan products. As a Massachusetts co-operative bank, 100% of customers’ deposits are always fully insured. Established in 1877, Mechanics Cooperative Bank is Massachusetts’ second-oldest co-operative bank with eight conveniently located branches in Bridgewater, Taunton, North Dighton, Somerset, Swansea, Fall River and Westport. For more information, call 1-888-MECHANICS (632-4264) or visit Mechanics-Coop.com. Member FDIC. Member SIF. Equal Housing Lender.
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