Banking & Finance

Overall, more than 20,000 PPP loans for a total of $1.8 billion were given out to businesses across Worcester County, with more than 4,800 and $450 million of those loans going to businesses within the city of Worcester, according to data from the SBA.

The severing of economic ties between the U.S. and Russia is likely to prove a challenge for IPG Photonics, which was founded in Russia and has long-standing ties to the country.

After its busiest year ever, Natick-based manufacturer Cognex Corp. said its momentum might be starting to slow down.

MutualOne Bank in Framingham promoted its long-time head of commercial lending, Brian Ledwith, to executive vice president and chief lending officer, the bank announced Tuesday.

The bank’s growth in assets mainly came from securities, which rose $84 million from the 2020 fiscal year, and net loans, which increased by $48 million.

Marlborough technology company Wyebot has closed on $8 million in Series A funding to meet what the company says is expanding market demands for its services. 

Fontaine Bros. Inc., a construction and contracting firm based in Springfield and Worcester, has appointed Sherri Pitcher as senior director of marketing and business development.

The profit is higher than that of the previous year’s first quarter, which was $92 million. The company also reported a 91% increase in operating revenue from the past year’s first quarter, rising from $61 million to $117 million.

Worcester Business Journal began listing the most influential people in the Central Massachusetts economy in 2013, using various iterations of the concept to arrive at the Power 50, which started in 2018.

The Power 50 may not necessarily hold the most power in the region, but they are the people who most effectively wielded their power to have an outsized influence on the economy and the community within the last year.