Update: The state announced Friday an additional $10 million would go into the recovery loan fund, increasing the total amount available to $20 million.
Gov. Charlie Baker said Monday the state would offer emergency loans of up to $75,000 to small businesses affected by the coronavirus outbreak.
Baker said the $10 million small business recovery loan fund will make loans available immediately to businesses with fewer than 50 full- or part-time employees, including nonprofits.
Similar funds were created during the 2015 blizzards and the 2018 Merrimack Valley gas explosions, Baker said.
Starting Tuesday, restaurants and bars across the state will not be allowed to serve food or drink on premises, though they can offer takeout or delivery. Gatherings of more than 25 people are banned, leading to businesses across the state closing.
The closures will run for at least three weeks, until April 6.
This article was originally published on March 16, 2020.