SBA Disaster Loans Now Available in Massachusetts
Massachusetts small businesses affected by the coronavirus can now apply for disaster assistance loans through the U.S. Small Business Administration.
As Coronavirus Spread, Banks Had to Adapt Service Quickly
As the coronavirus continued to spread during the second week of March, executives at Cape Cod Five developed a two-phase approach for servicing branch customers.
Cambridge Joins Boston with Construction Freeze
Cambridge officials Wednesday night issued a moratorium on all construction activity in the city “until further notice” to help slow the spread of COVID-19.
Simon Property Group Temporarily Closes All 12 MA Properties
One of the country’s largest operators of malls announced it is closing its U.S. properties temporarily due to the coronavirus outbreak.
FHFA Suspends Foreclosures and Evictions for GSE-Backed Mortgages
Homeowners with mortgages backed by Fannie Mae and Freddie Mac won’t have to worry about foreclosures or evictions during the coronavirus crisis.
Sellers, Buyers Turn ‘Apprehensive’ as COVID-19 Crisis Deepens
It appears that the wave of homebuyer optimism that buoyed up the housing market heading into March may be starting to recede in the face of the coronavirus.
DOB Promises No Criticism as Banks Grapple with Borrowers’ Virus Troubles
As banks and credit unions face more individual and business customers suddenly struggling thanks to the coronavirus outbreak, the state Division of Banks has promised its examiners won’t criticize “safe and sound” steps they may take to help keep borrowers afloat.
Mass. Economists: Global COVID-19 Recession ‘a Virtual Certainty’
A group of senior economists at Massachusetts’ largest universities, lenders, the Federal Reserve Bank of Boston and the FDIC have declared “a global recession is a virtual certainty”
Baker: No Plan ‘At This Point’ for Statewide Construction Shutdown
While Boston Mayor Marty Walsh has, citing public health concerns, brought all construction projects to a halt in his city, Gov. Charlie Baker said yesterday he has no plans for a similar move statewide.
Use Skype to Buy a House? Attorneys Ask for the Option
A group of real estate attorneys is asking Gov. Charlie Baker for an executive order allowing them to perform virtual closings via teleconference as face-to-face meetings with clients become impractical because of social distancing.
State Housing Court Postpones All Eviction Hearings
The Massachusetts Housing Court has declared it will not hear any eviction cases until April 21, rendering moot a debate over eviction moratoriums during the coronavirus outbreak.
Fed to Try to Ease Flow of Credit with New Lending Facility
In its latest emergency action, the Federal Reserve is establishing a lending facility to try to ease the flow of short-term credit to banks and businesses as the economy grinds to a halt from the viral outbreak.
More Bank Branches Close Throughout State
Massachusetts communities saw more changes at bank branches Tuesday as the spread of the coronavirus continued. Bank branches throughout the state have closed, with some offering services at drive-up windows only and others shutting down entirely.
Construction Ban Puts Pressure on Projects’ Financing
A shutdown order for Boston’s construction sites is likely to place strains on developments’ financing packages as developers struggle to meet investors’ timelines to make progress.
Sources: White House Seeks $850B Economic Stimulus
The White House is proposing a roughly $850 billion emergency economic rescue package Tuesday for businesses and taxpayers amid the coronavirus crisis.
Retailers Reel from Virus, but Get Creative
Across Massachusetts, restaurateurs are swapping dining room china and silverware for to-go containers and plastic cutlery as they scramble to deal with the impact of the coronavirus.
Baker Announces $10M Small Business Loan Fund
Gov. Charlie Baker is throwing small businesses a $10 million lifeline as their sales shrink dramatically amid concerns over the spread of COVID-19.
Avidia Closes Two Branches as Precaution Against Virus
At least one Massachusetts bank has closed branches due to the coronavirus. Avidia Bank stopped offering services inside its branches at 17 Pope St and 42 Main St in Hudson after closing the branches late last week for cleaning through the weekend as a precaution due to the coronavirus outbreak.
Restaurants, Landlords Brace for Economic Hit
Massachusetts restaurant landlords are scrambling to cope with “inevitable requests” for rent relief as they brace for an extended period of shuttered establishments.
Berkshire to Help Business Borrowers Facing Hardships
Boston-based Berkshire Bank has taken steps to assist both retail and small business customers facing financial hardship due to the economic impact of the coronavirus.
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