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In other developments today: The state is currently on track to end Fiscal Year 2020 with a General Fund deficit of $170 million; a new statewide organization has been formed to help Connecticut's nonprofits; and according to one model, Connecticut’s hospitals will hit peak resource use on April 16, at which time there will be a shortage of 2,167 hospital beds and a deficit of 499 ICU beds. The same model predicts 1,092 virus-related deaths here through Aug. 4.
“We’re constantly discussing options for our customers in the face of hardship,” says Patriot Bank President Richard Muskus Jr. “We will do what we can as an organization to help them – the bank is not going to abandon them.”
“Restaurants are not buying a lot of kegs these days,” one craft brewer noted wryly.
Loans of up to $2 million are available, at interest rates of 3.75% for small businesses without credit available elsewhere and 2.75% for nonprofits.
LOOKING TO BUY A BUILDING. OUR BANK IS RECOMMENDING WE GO THROUGH THE SMALL BUSINESS ADMINISTRATION. I’VE BEEN WARNED THAT THE SBA LENDING APPLICATION...
Small Business Administration District Director Anne Hunt says the increased lending indicates positive activity within the financial industry; that banks are taking on more loans; and that small businesses are finding it easier to approach lenders.
“I wish to thank the president and I will continue to be a strong advocate for him and his policies,” the Greenwich resident said.
Change is the byword at People’s United Bank. With the dust still settling on its $544 million acquisition of Farmington Bank, People’s is still wrestling with the technological and cybersecurity issues facing most industries today — particularly in the financial services sector.
SBA-guaranteed loans in Westchester County were up 20 percent in number from 2016 and totaled nearly $75 million.
“I’m absolutely, thoroughly enjoying what I’m doing, and I hope I’m making a difference," McMahon told the crowd at the Country Club of Darien.
LLF Construction was struggling financially before Hurricane Sandy struck, the criminal complaint states, and Leonardo Fabio applied the loan to other debts.
U.S. Sens. Blumenthal and Murphy introduced their former political rival for consideration.