Small business owners on Martha’s Vineyard can now apply for forgivable federal loans covering up to $10,000 of losses caused by the Covid-19 pandemic.

The micro-enterprise loans are available for companies with up to five workers including the owner, according to Melissa Vincent of The Resource, Inc. (TRI), a Cape and Vineyard nonprofit administering the loan program.

The family income of the business owner requesting the funds must be no more than 80 per cent of the county median. In Dukes County, the median income for a family of four is $104,800, of which 80 per cent is $80,550, Ms. Vincent said.

The funding comes from the U.S. Department of Housing and Urban Development via the state.

“The Massachusetts Department of Housing and Community Development, in response to the Covid crisis, were given federal funding through the CARES Act,” Ms. Vincent said, referring to the Coronavirus Aid, Relief, and Economic Security Act passed earlier this year.

The state is making the money available as a series of grants, Ms. Vincent said. On behalf of all six Island towns, Edgartown applied and received $285,000 for small business relief through the new loan program.

There’s no set deadline to apply for the micro-enterprise loans. “We’re going to do it until we run out of money,” Ms. Vincent said, adding that her office already has received five applications, each for the full $10,000 available per business.

The loan process begins online at, where an online pre-application guides owners through the elements needed to qualify.

“Don’t let the paperwork get you down. We’re here to help you,” Ms. Vincent said. “We really try to guide people through the process.”

TRI has been administering forgivable HUD loans to Island homeowners for more than 20 years.

“We help people that are at 80 per cent or less of the median income do critical repairs on their homes, at up to $40,000 of deferred, forgivable funding,” she said.

“Siding, roofing, windows, doors, heating system, septic system replacement if it failed — anything that keeps the home safe, that is code related or energy efficient,” Ms. Vincent said.

Families that meet the 80 per cent criterion also can apply for child care subsidies, she said.

Located at 18 State Road in Vineyard Haven, TRI is open weekdays from 9 a.m. to 5 p.m., Ms. Vincent said, adding that it’s advisable to call 508-696-3285 ahead of a visit.