Boston Creates Small Business Relief Fund to Help ‘Non-Essential’ Bizs Making Less Than $1.5M Annually

The city has created a Small Business Relief Fund to assist Boston's small businesses most directly impacted by the COVID-19 pandemic. The fund is specifically for for-profit entities with fewer than 35 employees, and that earns less than $1,500,000 in annual revenue. "We are committed to helping Boston's small businesses during this unprecedented time by providing strategic, accessible, and critical financial resources to help them stay afloat and pay employees," said Mayor Marty Walsh. "Small businesses are the backbone of our economy and the lifeblood of our neighborhoods. As the response to COVID-19 continues to evolve, we want to make this resource as straightforward as possible for business owners and work one-on-one to ensure they have the most up-to-date information on financial assistance available."

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Walsh: Through Every Challenge, Boston Stands Together

The coronavirus is a serious public health crisis that is affecting every aspect of life in our city. I know that the changes have been disruptive, and the cancellations have been disappointing. Some working people are losing paychecks, worried about bills, and struggling with childcare. And through it all, many of the people we want to wrap our arms around the most, are the very people we must keep at arm’s length, for their own safety. I want you to know that the city is working around the clock to slow the spread of the virus, keep people healthy, and make sure that our city can return to normal as soon as possible.

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Boston Foreclosures Dropped 61% in 2019

Boston's foreclosure rate reached a 17-year low in 2019, dropping 61 percent in 2019 compared to 2018. Across the city foreclosure executions went down from 103 in 2018 to 40 in 2019, according to city statistics. Comparatively, 1,215 foreclosures were executed in 2008 during the height of the housing crisis. "I'm proud that through our work with homeowners, we have been able to reduce the number of foreclosures in Boston, and keep more families in their homes," said Mayor Marty Walsh via press release. "These results show that our programs and policies to prevent foreclosures and evictions are working.

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