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Paul Playe, president of the Westford Business Association, and Bruce Rosenberg, chair of the Economic Development Committee host an interview with Paul Milano, senior director business development, Massachusetts Office of Business Development.
Milano addressed the U.S. Small Business Administration’s, a loan program designed to direct incentives toward small businesses to keep workers on the payroll. Loans can be up to $10 million with a .5 percent interest rate to maturity and no payments for the first six months.
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Some of those who are eligible are businesses of 500 or less, independent contractors, non profits, self-employed individuals, and sole proprietors.
Playe, who is also Assistant Vice President and Branch Manager of Eastern Bank in Westford, said the SBA will begin accepting applications on April 9.
“I think the process will probably take about 10 days,” Playe said.