Banking & Finance

The House of Representatives on Friday afternoon passed the $2-trillion economic stimulus package, which includes $367-billion in forgivable loans for small businesses, meant to help the economy as the country battles the coronavirus.

With a $2 trillion stimulus package one House vote away from President Donald Trump's desk, U.S. Sen. Elizabeth Warren on Thursday told small business owners that the coronavirus relief bill would make millions available to them, mostly through loans, as they try to weather the shutdown of economic life nationwide.

The bill includes hundreds of billions of dollars for emergency loans to small businesses.

Central One Federal Credit Union is staying put in Shrewsbury, where it has long been based. But the credit union has outgrown its space and is adding a new operations center in Auburn.

The $10-million fund set up Monday by the Gov. Charlie Baker Administration to provide relief to small businesses impacted by the coronavirus was open for three days.

The Commonwealth of Massachusetts, the federal government and local organizations have all announced efforts to help businesses impacted by the effort to stop the spread of the coronavirus.

The Federal Reserve Board has announced a new program to support banks and other institutions while seeking to enhance the liquidity and functioning of crucial money markets.

Providing service for customers without getting too close — a growing necessity for restaurants, retailers and others — is now going to be tried by banks.

To inquire about a loan, contact Sandie Cataldo at scataldo@northcentralmass.com or Brendan Hannen at bhannen@northcentralmass.com.

Businesses with less than 50 full-time and part-time employees can apply for loans up to $75,000 through the quasi-public organization Massachusetts Growth Capital Corp.