Up To $3 Million Being Set Aside
March 17, 2020
Berkshire Bank announced it is going to set aside $3 million in available capital to provide funding to small businesses hard hit by the coronavirus outbreak. Its foundation is also setting aside money for grants.
Monday the bank said it is giving assistance to small businesses that are most impacted by the financial implications of the coronavirus pandemic. The bank says it is actively engaging with partners like the Massachusetts LGBTQ Chamber and the Black Economic Council of MA, among others.
Berkshire Bank provides business and consumer banking, mortgage, wealth management, investment and insurance services through 130 branch offices in New York, Connecticut, Vermont, New Jersey, Pennsylvania, Rhode Island and Massachusetts.
In addition, Berkshire Bank Foundation has 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 make these dollars available to those who need them most in the communities we serve and to sharing more details about these programs in the short term," said Malia Lazu, executive vice president, chief experience and culture officer of Berkshire Bank.
Read more about Berkshire Bank’s efforts during the pandemic.
Northeast Midsize Companies Less Than Optimistic About Local Economy