December Newsletter l NEW EIDL DEADLINE 12/31!

Massachusetts District Office - December 2020

u s small business administration

Support Your Local Small Businesses

Shop small for the holidays


3️ easy ways to #SupportSmallBiz in your community throughout the holiday shopping season:

  1. Shop online at the company's website.
  2. Buy gift cards or gift certificates from the business.
  3. Recommend the business on social media.

News Release: SBA Recognizes Lender Commitment Across the Commonwealth in Unprecedented Year

News Release

The Massachusetts District Office held its’ Annual Meeting virtually on Monday, December 7th and announced the 2020 Lender AwardsDownload Adobe Reader to read this link content to highlight SBA lending activity in a historic year.

Collectively, including 7(a), 504 and microloans, the SBA with the help of over 150 different lenders, supported capital to 1,561 small businesses for $680.39 millionDownload Adobe Reader to read this link content in Massachusetts,” said Robert H. Nelson, SBA Massachusetts District Director. “We thank all of our partners and friends for working with the SBA to ensure small businesses get the access to capital they need to start, grow, expand and recover.”

In recognition of the partners that helped deliver 118,392 loan approvals, totaling $14.3 billion in Paycheck Protection Program funding, the Massachusetts District Office presented a Certificate of Achievement to all of the participating lenders.   

2020 SBA Massachusetts Lender Awards:

TD Bank approved 13 7(a) loans totaling over $2.3 million in Western Massachusetts.

  • # 1 Western MA SBA 7a Lender

Westfield Bank approved 5 third party loans in Western MA for close to $2.5 million.

  • # 1 Western MA Third Party Lender of the Year

Adams Community Bank approved 7 7(a) loans totaling $625,000 in Western Massachusetts, with the highest percentage of loan approvals to rural businesses.

  • # 1 SBA Lender to Rural Areas

Granite State Development Corporation approved 21 loans totaling over $8.3 million, with over $50.5 million in debenture approvals for FY 2020.

  • # 1 Western MA 504 CDC by Loan Volume and Approvals
  • # 1 CDC Lender by Dollars

St. Mary's Credit Union approved 25 loans or 63% of its total 7(a) loan production to businesses in the construction industry.  St. Mary’s Credit Union also made the top 5 (up from the top 10 in FY 2019) on the statewide lender list with 40 7(a) loan approvals for over $2.5 million.

  • # 1 Lender to Construction
  • Credit Union of the Year

South Shore Bank had the highest percentage of 7(a) loan approvals to manufacturers in 2020.

  • # 1 Lender to Manufacturers

Cambridge Savings Bank had 65% of their 7(a) loan approvals to new businesses and 25% of its 7(a) approvals going to businesses in the retail trade. 

  • #1 Lender to New Businesses
  • #1 Lender to Retail Industry

Bristol County Savings Bank approved 18 7(a) loans for almost $3 million, with close to 39% of loans made to women owned businesses.

  • # 1 Lender to Women Entrepreneurs

Newburyport Five Cents Savings Bank made the top 25 most active SBA lender list in Mass with 10 7(a) loan approvals.  The bank had the highest percentage of loan approvals to veteran owned businesses.

  • # 1 Lender to Veteran Entrepreneurs

Leader Bank had 16 loan approvals and made over 56% of their SBA 7(a) loan approvals to minority owned businesses. 

  • # 1 Lender to Minority Entrepreneurs

Santander Bank had 21 loan approvals for over $4.3 million with over 38% of all 7(a) loans approved going to accommodation and food service establishments.

  • #1 Lender to Restaurants

Bay Colony Development Corporation had 95 SBA 504 loan approvals totaling over $45 million.

  • #1 504 CDC by Loan Approvals

Ascendus (Accion East) approved 46 microloans for over $314,000 with more than a quarter of all microloans approved in the state.

  • # 1 Micro Lender of the Year

North Central Massachusetts Development Corporation funded 18 microloans for over $511,000.  In 2019 NCMDC approved 10 microloans for $298,000; This year’s activity represents an 80% increase in microloan approvals.  

  • Most Improved Micro Lending Intermediary of the Year

Eastern Bank approved 426 SBA 7(a) loans or over 37.5% of all SBA 7(a) loans made in the state, totaling over $41.2 million.  Eastern Bank also approved 19 third party loans in excess of $12.9 million.

  • #1 7(a) Lender by Loan Volume and Approvals 
  • #1 504 3rd Party Lender of the Year by Approvals
  • Lender of the Year for Job Creation and Retention



What to do if my EIDL was declined?

Please be advised that the deadline to apply for EIDL funding is now DECEMBER 31st, 2020

Additionally, if your COVID-19 Economic Injury Disaster Loan was declined, you can request reconsideration within six months of the date of the decline letter. Include your application number and information required to overcome the reason for decline. You can send this information via email to or mail to the U.S. Small Business Administration Disaster Assistance Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.  Learn more


Simpler PPP Forgiveness for Loans of $50,000 or Less

PPP Forgiveness

SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020.  SBA will continue to process all PPP forgiveness applications in an expeditious manner.

Click here to view the simpler loan forgiveness application.

Click here to view the instructions for completing the simpler loan forgiveness application.

Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.

WATCH ON-DEMAND: PPP Forgiveness Overview with Lender Relations Specialist Dan Martiniello

Do you want to get ready to apply for PPP forgiveness?

The Taunton Area Chamber of Commerce and MA Small Business Development Center Southeast Regional Office hosted a webinar with SBA MA Lender Relations Specialist Dan Martiniello on Friday, November 6th all about the latest PPP Forgiveness process. 



UPCOMING Virtual Events

Tuesday 12/15/20 / 12:00pm - 1:00pm
Demystifying Disaster Loans: PPP Loan Forgiveness and EIDL Application How To's

Tuesday 12/15/20 / 1:00pm - 2:00pm
SBA's PPP Loan Forgiveness Tips & Hints

Tuesday 12/15/20 / 2:30pm - 3:30pm
Info Session on Economic Injury Disaster Loan

Tuesday 12/15/20 / 5:00pm - 6:00pm
Demystifying Disaster Loans: PPP Loan Forgiveness and EIDL Application

Tuesday 12/15/20 / 5:00pm - 7:00pm
CWE Eastern MA: Cash Flow Management for COVID Recovery

Wednesday 12/16/20 / 5:00pm - 7:00pm
CWE Eastern MA: Understanding Cash Flow Management (For Beginners)

Wednesday 12/16/20 / 10:00am - 11:15am
Price it Right! Effective Pricing Strategies and Tactics

Thursday 12/17/20 / 1:00pm - 2:30pm
CWE Central MA - Business Plan Basics

Thursday 12/17/20 / 5:00pm - 7:00pm
CWE Eastern MA: Optimizing Facebook Use During COVID

Friday 12/18/20 / 9:30am - 11:00am
Entrepreneur Success Toolkit

Monday  12/21/20 / 8:00am - 9:30am
CWE Central MA - Women Supporting Women: Online Open Forum

Tuesday 12/22/20 / 12:00pm - 1:00pm
CWE Central MA - Tuesday Talks

Government Contracting

Thursday  12/17/20 / 9:00am - 10:30am
SBA 8(a) Business Development Eligibility Session

Government contracting classroom

12/16 Marketing & Networking Tips for Federal Government Contracting


Wednesday  12/16/20 / 9:30am - 11:30am

Why should the Federal Government do business with you? That seems like a simple enough question to answer but that isn't always the case. There are a lot of steps that a small business needs to take to answer that "golden question." Understanding how marketing and networking play an essential role in creating opportunities for your business is vital. The SBA and Massachusetts Procurement Technical Assistance Center (PTAC) are here to assist you along this journey.

This webinar is the fourth and final installment in our series of contracting webinars that will help you identify the opportunities for business growth through Federal Government Contracting as well as finding out if your business has the capability to seek out these opportunities.

During this webinar our guest speakers will provide you with an in depth understanding of the importance developing sound marketing strategies along with networking opportunities available to small businesses that will help your small business gain access to Federal Government Contracting opportunities. During this webinar you will learn the importance of the following topics:

  • Marketing your small business to Federal Agencies and Prime Contractors
  • How to develop Capability Statements
  • The benefits of Matchmakers

If you're feeling ambitious and want to put your networking skills on display join us at 9:30AM as we will host a live networking event for the first half hour of the webinar. The remaining presentation will start at 10:00AM.

Guest Speakers will include:

  • Michelle Simoes- Procurement Specialist of the Massachusetts Procurement Technical Assistance Center
  • Peter Kontakos- Deputy District Director for the SBA's Massachusetts District Office
  • Nadine Boone- Assistant District Director of Business Development for the SBA's Massachusetts District Office

Welcome New 8(a) Certified Business!


ChallengeHER: WOSB Program Update 

(View On-Demand)

Please check out a video on-demand with special guest: Barbara Carson, Deputy Associate Administrator, Office of Government Contracting and Business Development U.S. Small Business Administration.



Small Business Resource Guide Massachusetts Edition 2020

Check out our latest Massachusetts Edition 2020 - Small Business Resource Guide now available online!

2020 Resource Guide


Please direct all other inquiries and questions to our District Office email at:

FREE and confidential counseling services are available across the Commonwealth. 


Virtual education, training and networking sessions are happening daily.


Please schedule a virtual session with any of our Resource Partners below...

Resource Partner Network

How prepared are you to reopen your business? Check it out here



Staff are working remotely and can be reached via email or telephone. MSBDC is committed to supporting entrepreneurs during these very challenging times.

Request for Counseling

MSBDC advisors can assist businesses with disaster loan applications.

If you are not currently a client and would like to speak with a counselor, please find your region and reach out to the REGIONAL OFFICE SERVING YOU.

Berkshire Regional Office
33 Dunham Mall, Suite 103
Pittsfield, MA 01201
413-499-0933 | Fax: 413-499-3005

Central Regional Office
Clark University
The Carriage House, 125 Woodland Street
Worcester, MA 01610
508-793-7615 | Fax: 508-793-8890

Northeast Regional Office  (SPANISH-SPEAKING COUNSELOR)
Salem State University
121 Loring Avenue, Suite 310
Salem, MA 01970
978-542-6343 | Fax: 978-542-6345

Procurement Technical Assistance Center
Scibelli Enterprise Center
1 Federal Street, Building 1
Springfield, MA 01105
413-545-6303 | Fax: 413-737-2312

Southeast Regional Office
200 Pocasset Street
Fall River, MA 02721
508-673-9783 | Fax: 508-674-1929

Western Regional Office
Scibelli Enterprise Center
One Federal Street, Building 101
Springfield, MA 01105-1160
413-577-1768 | Fax: 413-737-2312



Request for Counseling

Counseling Sessions with BOSTON SCORE CHAPTER:
If you want to speak with a counselor, SCORE is doing tele-consults. Just pick a date and time to schedule a session and enter your contact info, mentors are doing sessions by phone and Zoom video app. 

Reach out to other SCORE CHAPTERS throughout the state below.

SCORE Boston Chapter

SCORE Worcester Chapter

SCORE Northeastern Massachusetts Chapter

SCORE Southeastern Massachusetts Chapter

SCORE Western Massachusetts Chapter

SCORE Cape Cod Chapter

SCORE Rhode Island (Serving Fall River, New Bedford)


CWEWomen's Business Centers


Eastern Massachusetts Center - Boston
44 School St., Suite 200
Boston, MA 02108

Central Massachusetts Center - Westborough
69 Milk St., Ste. 217
Westborough, MA 01581

Veterans Business Outreach Center of New England (VBOC of NE)
132 George M. Cohan Blvd.
Providence, RI 02903


Disclaimer: The SBA does not endorse the organizations sponsoring linked websites, and does not endorse the views they express or the products/services they offer.  All programs and services are extended to the public on a nondiscriminatory basis.