Banking & Finance

Milka Njoroge is CEO of Worcester home healthcare agency Century Homecare. She spoke with WBJ on April 2 about how her firm was navigating the coronavirus pandemic, as her workers mostly deal with vulnerable patients who have a variety of medical needs.

The last several weeks have brought limited relief to businesses grappling with an immediate economic downturn that is the result of COVID-19 and social distancing. However, some businesses will require more help than short-term loans backed by the government can provide. They will need to restructure mortgage loans, reduce debt service, or even eliminate unsecured debt, such as trade payables.

Brian Treitman, the founder of B.T.'s Smokehouse in Sturbridge, and his business partner, Billy Nemeroff, join The Weekly Business Report to discuss the new B.T.'s location in Worcester and why barbecue restaurants have fared better during the coronavirus shutdown than most other eateries.

It has not been a normal month for Fidelity Bank. Like practically every bank anywhere, the Leominster bank has rushed to help small businesses apply for federal pandemic aid, while also working with homeowners looking to refinance with incredibly low interest rates.

Ten days after the $349-billion program launch, a small percentage of businesses who applied for coronavirus relief funds under the federal Paycheck Protection Program have received the funds, according to a new national crowdsourcing tracker set up by a Miami entrepreneur couple.

For the past 30 years, Richard Carr has helped his clients, many of whom are business owners, prepare for and weather financial storms. As the coronavirus pandemic upends the economy, Carr and his team at Carr Financial Group Corp. in Worcester are figuring out what the future will look like.

Companies like Worcester Fitness, Centage Corp., Anna Maria College and Clinton Savings Bank all have had recent hires and promotions.

For banks certified as U.S. Small Business Administration lenders, last Friday was a rush of activity for an industry more used to thoughtful and methodical transactions. The planning was still there, but no spare time once the SBA began accepting applications for the $349-billion federal relief program.

Dr. Eric Dickson, CEO and president of UMass Memorial Health Care in Worcester, joins the podcast to talk about all the efforts the hospital system is making to deal with the anticipated spike in coronavirus cases in the coming weeks.

With events canceled across the state and most hospitality businesses considered non-essential, the Central Massachusetts tourism industry is anticipating major losses due to the efforts to stem the coronavirus pandemic.