Agency / Department: Berkshire Bank
Resource: Funding assistance to New England small businesses
Details: We are actively engaging with partners like the Massachusetts LGBTQ Chamber and the Black Economic Council in MA, among others, to provide funding assistance to small businesses that are most impacted by the financial implications of the pandemic. This funding will provide a unique selection of low-interest rate solutions underwritten by our community partners. We will be setting aside $3 million in available capital to support this effort.
In addition, we have earmarked an incremental $500,000 for small business grants to help businesses that do not have the ability to pay. We look forward to working with the Berkshire Bank Foundation and the Foundation for Business Equity, among others, to deploy these dollars across our banking footprint and to sharing more details about these programs in the short term.