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START Launches

4.27.20

Salem has launched START, the Salem Together Assistance and Recovery Toolkit.  The toolkit has resources for both residents and small businesses in Salem who have been financially impacted by COVID-19.

For homeowners, several local banks are offering at least 3 months of deferred mortgage payments with no late fees or credit penalties. Deferred payments are added to the conclusion of the mortgage and spread out over the same timeframe.

For renters, Salem is offering rental assistance to those who qualify.  The assistance consists of two $500 monthly payments paid directly to the landlord.  This is available per household to those making 50% or less than the Area Median Income.

For small business owners, Salem has small business relief grants of up to $10,000.  To qualify for the grant, the business must be both for-profit and have a brick and mortar location.  The grant would not require repayment as long as the terms of the grant agreement are met.

You can find more information about START here.

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