Supports for Salem Residents and Businesses Impacted by COVID-19
Salem Mayor Kim Driscoll today announced the availability of the Salem Together Assistance and Recovery Toolkit (START) for residents and small businesses impacted by the COVID-19 outbreak. Mortgage deferral is available for some Salem homeowners and START grants are available to support income-eligible residential renters and microenterprises during the current crisis. Program information and applications can be found at salem.com/START.
“During this unprecedented crisis the City of Salem is working hard to get resources and support to those most in need in our community,” said Mayor Driscoll. “These new programs will help provide critical dollars to some of our most vulnerable residents and struggling small businesses. I encourage anyone who may be eligible to consider applying for support. Your City is here for you and we want to do all that we can to help you through these difficult days. I’d also like to express my thanks to the many City staff who have worked so diligently over the last few weeks to create these new programs and our community banks for their partnership.”
Homeowner Mortgage Deferral
Working with a number of banks in Salem, the City has compiled a list of offerings for homeowners in need of assistance. Primarily, the assistance enables homeowners impacted by COVID-19 an option to defer at least three months of mortgage payments during this crisis. Deferred payment amounts are added to the conclusion of the mortgage and spread out over the same timeframe. No late fees will be charged and deferrals are not reported to credited agencies. To receive a deferral, homeowners should contact their bank or lender directly. Not all banks are offering this option. A list of banks that are participating will be updated at salem.com/START. At this point participating banks include Salem Five, Eastern Bank, Century Bank, and Bank of America.
Rental Assistance
The rental assistance program is available for Salem residential renters who have had a demonstrated gap in their income due to the COVID-19 pandemic and are at risk of losing their housing. The program provides $500 per household for two months (maximum $1,000), in a payment made directly to their landlord. The program is administered by North Shore Community Action Programs.
Micro and Small Business Grants
Microenterprise and small business relief grants of up to $10,000 are available to offset the negative business impacts of the COVID-19 pandemic. The program is open to for-profit Salem businesses with a brick and mortar location. Funding can be used to offset payroll costs, rent and mortgage payments, utilities, and loss of inventory due to mandatory closures. The program provides short-term working capital assistance to support businesses and retain jobs during the severe economic interruption caused by the COVID-19 pandemic. While this program is focused on supporting Salem’s microenterprises and small businesses, the City continues to work on developing programs to provide targeted support for other size businesses, as well.
Funding for the grant programs has been provided from a variety of sources, including regular City funds, CDBG and HOME funds, and federal CARES funding. Both grant programs will be remain in place for as long as funding is available. Additional private, local, state, and federal resources for residents and businesses impacted by COVID-19 can be found at salem.com/together.
In the provision of our services, the City of Salem does not discriminate on the basis of immigration status, race, color, ethnicity, national origin, gender or gender identity, age, religion, marital status, familial status, sexual orientation, ancestry, public assistance, veteran history/military status, genetic information or disability.