Banking & Finance

Banks and credit unions don't have to have a previous affiliation with the U.S. Small Business Administration in order to help companies obtain loans under the $349-billion Payroll Protection Program, created to help businesses maintain their staffs in the wake of the coronavirus crisis.

One message was clear during Worcester Business Journal's webinar Thursday about the $2-trillion stimulus package in the wake of the coronavirus crisis: Get your loan applications as soon as possible starting Friday.

The U.S. Small Business Administration announced Tuesday evening it has begun mobilization of the program designed to help them avoid layoffs and rehire staff amid the economic crisis caused by the efforts to limit the spread of the coronavirus.

Worcester Business Journal on Thursday will start a free webinar series for Central Massachusetts businesses to better understand how they can benefit from the $2-trillion federal economic stimulus package.

In this episode of The Weekly Business Report, co-hosts Brad Kane and Hank Stolz practice social distancing for this podcast and go without guests. Instead, they talk about what has made them happy personally, amid all the COVID-19 craziness

Natick-based Middlesex Savings Bank will distribute $1 million to local nonprofit organizations impacted by the COVID-19 pandemic, the company announced in a press release.

New hires and promotions at companies like AAFCPAs in Westborough, Bryley Sytems in Clinton, Concierge Physical Therapy in Sutton, Reliant Medical Group and Framingham State University.

CEO Eric Dickson said while UMass is grateful for the few million dollars in donations it garners each year, they don’t even compare to hospitals in Boston, who tend to generate tens of millions of dollars in philanthropy every year.

It isn’t heavily dependent on tourism or conventions, and it has relatively few hotel rooms. It isn’t home to any casinos and doesn’t host headquarters for any major airlines, energy companies, automakers or cruise lines, among others who have been hardest hit.

As the COVID-19 pandemic wears on and Central Massachusetts business owners adjust to a shifting economic and regulatory environment, area experts are cautioning company heads to stay abreast of ever-changing tides – and to make sure emergency plans are in place to protect work and cash flow.