Local small businesses and nonprofits have faced many hardships due to the COVID-19 pandemic. These organizations have had to reduce their staff, increasing remaining workloads, while also trying to gain access to the proper PPE for their teams. Thomaston Savings Bank has offered a variety of benefits and programs to not only provide relief, but support the economic growth for businesses that are struggling. This support has played a pivotal role in many small businesses’ survival through the economic turmoil of the pandemic.
In a continued effort to support the business community, Thomaston Savings Bank is happy to announce the recent approval for the request of a Jobs for New England Recovery Grant for the amount of $50,000. These funds will be granted to ten small businesses in the amount of $5,000 per organization.
The Federal Home Loan Bank in Boston offers the Jobs for New England (JNE) program. The JNE program provides discounted advances to members in support of small business loans in New England, which drive economic growth and development. The goal of this program is to relieve financial stress and allow for small businesses to better navigate through the pandemic. This program has provided a total of $6.1 million in grant recovery for 2020 leading into the 2021 phase.
“We are pleased to announce the approval of the JNE Recovery Grant. These businesses are an essential part of our local community and we are looking forward to their economic growth and success during a time of challenges and hardship.” – James Murdick, Thomaston Savings Bank, Senior Vice President, Chief Loan Officer