Chamber Member Spotlight: bankHometown rescues small businesses with PPP approvals

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When the SBA launched the Paycheck Protection Program (PPP), bankHometown sprang into action to assist local business owners access these funds and keep the community employed.

Their branches moved swiftly and quickly to transform the retail business so that their customers could count on them, and, in total, bankHometown approved almost 800 PPP loans totaling nearly $70 million, allowing local business to keep thousands of employees on payroll.

“Our focus was on small businesses who needed it most, with 90% of our PPP loans under $250,000. Through it all, we remain proactive, accessible, and responsive to help business owners weather the storm,” said Robert Morton, President and CEO.

“In fact, we recently contributed $5,000 to the North Central Massachusetts Economic Recovery Fund to help provide emergency support to small businesses negatively affected by the COVID-19 pandemic,” he continued. “The chamber’s outreach to local business owners has become even more critical in these times of hardship and economic downturn, and we continue to support the chamber so that their services can continue to support our local business community in these difficult times.”

For over 130 years, bankHometown has been assisting their customers make the most of their financial futures and has experienced significant growth, particularly through a series of mergers and acquisitions, including locally with Athol-Clinton Cooperative Bank in 2011. Today, bankHometown grew into a $1.2 billion community bank with sixteen branch locations across central Massachusetts – including offices in Athol, Leominster, and Lancaster – and northeastern Connecticut.

“We’re proud to deliver local, community banking services to our communities, reinvesting deposits in loans that support local economic growth and job creation and giving back generously to the many ‘hometowns’ we serve through charitable donations and other community support,” said Morton. “Customers looking for enhanced services, greater convenience, a continued commitment to hometown banking and to our neighborhoods, with local leadership and service from trusted employees should look to bankHometown!”

This year, they opened up a second Worcester, MA location in September.

“We’re excited about the future and how we can continue to partner with our customers. We continue to develop new ways to provide customized financial solutions that create a successful tomorrow for our customers, and to add to our suite of smart banking technology that makes banking convenient and accessible—wherever our customers are and how they live,” Morton said.

bankHometown continues to play a critical role in the local community’s well-being during the ongoing COVID-19 pandemic, and continue to work with their customers facing financial stress and hardship during this crisis.

Morton states, “We helped our customers embrace the convenience and capabilities of bank-at-home services, many for the first time, so that they experience the peace of mind that comes with remaining connected. When we ultimately reopened our branch lobbies to customers, we implemented a wide range of personal protection measures that are in place today to ensure our locations are safe to do business.”

Morton also said that bankHometown is on a mission to deliver individualized financial support that ensures their customers can build a successful future – one that harnesses their financial power, fulfills their hope, dreams, and aspirations, and lets them live life to its fullest.

“We feel so strongly and passionately about that mission, that this fall we took the opportunity to evolve our bank’s brand to better communicate it,” he said.

‘Unlock Your Potential’ is more than just our new tagline. It’s our commitment to making a meaningful difference in our customers’ lives—to helping them through the most important financial decisions they face with confidence and assurance, and to unlocking the power of their own financial potential for themselves, their families, and their businesses.”

That promise is highlighted with a new logo that puts the customer at the epicenter, along with looking forward to new communications, branch signage, advertising, and introducing new television commercials that showcase how bankHometown can be a part of the financial milestones in customers’ lives.

bankHometown has sixteen locations and can be reached at 1-888-307-5887, or visit their website at www.bankhometown.com to find out more information. 

Weekly Download | We’re Retiring Later Than Ever, Which Is Good for Companies

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Weekly DownloadThe retirement age was long believed to be 65. Thus, the moment most individuals clocked 65, they tapped out of the employment sector and went home to start drawing on their Social Security benefits. Our community is experiencing a major shift as more and more workers are opting to stay on, later than 65, some even going beyond 70, which is good news for our local companies.

When people retire early or the slated 65, workers with vital experience take all that knowledge with them and this leaves our firms with knowledge gaps worth decades. While new blood is essential for the companies’ perfect running and catching up with the new status quo, knowledgeable, and technical know-how, it is worth noting that expertise gathered over decades is simply priceless, you can never put a price tag on that. Therefore, it is a good thing that people who have been around as businesses were formed, are in touch with their policies, watched them evolve, and have a clear sense of direction are staying on to keep growing these companies.

Why Are People Opting to Retire Later?

Some have had to retire earlier than they would have wished. We are ambitious people, but circumstances such as ill-health, accidents, or debilitations of all kinds may come between us and our visions for the firms we work in.

Those who stay longer might do so because the age for accessing the Social Security benefits has increased to 67 from 65, which applies to people born later than 1960. We, therefore, have to stay longer to be liable to these benefits.

We all deserve to lead a dignified life after a life spent building our local and country’s economy. Retiring later comes with the added benefit of boosting our income substantially, as the full benefits set on when you clock 70 and a half. People who feel their finances are not in order at the time of retiring might want to work a few more years to improve them. This is partly informed by the fact that the practice of paying pension is quickly losing ground.

A study has found that 61% of Americans fear going broke more than they fear death itself. Just the prospect of going broke has them putting in more hours only to live a better quality of life after retirement. At the same time, most want to stay active and do not prefer the inactive, no-routine experience that comes after retirement.

How Can Companies Gain from Late Retirement?

Regardless of their inspiration to stay longer, companies stand to benefit when we retire later, compared to when we seek early retirement. They have a bigger pool of experienced workers who are in touch with the company’s vision. What’s more, when new workers come in, they can find mentors in workers who have opted to retire much later.

Companies dedicate a lot of resources to training recruits and after all that training, most leave to seek better employment experiences. Older workers tend to stay longer at the firms they work rein. While they may not sit in active job spaces, they can hold consultative positions within the firm, which require a great deal of experience.

Better still, delayed retirement results in a higher GDP of our locale. As long as they keep working, they pay income tax, which goes a long way in improving service delivery in our community.

And that’s the download!

State Announces COVID-19 Small Business Grants – Apply Today!

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The Commonwealth of Massachusetts has made $50.8 million in grants available to support small businesses, microenterprises, and their employees, families, and communities. Massachusetts Growth Capital Corporation (MGCC) will be administering these funds to businesses experiencing economic hardship and a loss of income due to the COVID-19 pandemic.

 

Grant funding is intended to help businesses adversely impacted by the pandemic.

 

Preference will be given to small businesses whose owners are women, minorities, veterans, members of other underrepresented groups, who are focused on serving the Gateway Cities of Massachusetts, and those most negatively impacted by COVID-19 . Preference will also be given to applicants that have not been able to receive aid from other federal programs related to COVID-19.

 

Applications will be accepted beginning today at noon. The deadline to apply is November 12, 2020 at 12:00 PM.

 

To learn more and apply, please click here

North Central Massachusetts Chamber Welcomes Travis Condon to its Professional Staff

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Travis Condon, Public Affairs Manager

The North Central Massachusetts Chamber of Commerce is pleased to announce the addition of Travis Condon to its professional staff in the position of Public Affairs Manager.

In this position, Mr. Condon will be tasked with growing the advocacy and public policy efforts of the North Central Massachusetts Chamber and increasing the visibility of the region’s businesses and economy on Beacon Hill.

“We are excited to have Travis join our team and help contribute to the Chamber’s work of improving the business climate and advancing the economy of North Central Massachusetts,” said Roy M. Nascimento, President & CEO. “His strong communications background and relationships with leaders from throughout the state will make him a tremendous resource for our members and communities.”

Condon is well known and respected in the region.  He joins the Chamber from WPKZ Radio in Fitchburg where he served as the host and producer of the “K-Zone Morning Kommute” program since 2014.  In that position, he developed relationships with decision makers from Beacon Hill and cultivated a network of business and community leaders locally.  He is a native of Leominster and is active in the community, including serving as Vice President of the Board of Directors of Fitchburg Access Television, broadcast host of the Fitchburg 4th of July Parade, and emcee of the annual Memorial Day and Veterans Day Ceremonies.  He has also been recognized by the Massachusetts Broadcasters Association for his work.  Prior to WPKZ, Travis worked for WVHL Radio, WNEU TV and WFHN Radio.  He holds a Bachelor’s Degree from Bridgewater State University in Communications and Public Relations.

“I am truly thankful to the North Central Massachusetts Chamber team for giving me this opportunity,” said Condon. “I’m excited for the chance to work for an organization that does so much for the community that I grew up in and to use my position to advocate for our local businesses, especially given the current, unprecedented times.”

Existing members or businesses interested in learning more about the North Central Massachusetts Chamber of Commerce’s public positions can reach Travis Condon at 978.353.7600 ext. 224 or via email at .

Chamber Member Spotlight: Bright future ahead for Making Opportunity Count, Inc. amidst pandemic

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When the pandemic hit and business shut down in March earlier this year, many businesses had to pivot their thinking and decision-making in order to survive with the economy.

Making Opportunity Count Inc. (MOC) continues to thrive and grow, regardless of COVID-19.

“Like many businesses we have allowed a portion of our workforce to function remotely,” said Kevin Reed, Executive Director at MOC. “However, we have leveraged technology and extreme safety measures to provide high quality in person services during this time when allowable by regulations.”

MOC’s mission is to empower families to achieve economic security by eliminating barriers and creating opportunities. Their non-profit services include a focus on family and children, teen and youth, emergency services, health and wellness, healthy homes, economic stability, and elder services.

“We are in the business of keeping North Central moving forward,” said Reed. “Our job is to provide those facing economic hardship, injustice, or personal struggles with the supports & tools to achieve economic security and a better life.”

Since 2018, MOC has helped over 1,000 individuals receive case management, information, and referrals through the Fitchburg Family Resource Center, over 6,077 women, infants, and children improve their health and nutrition through the North Central WIC program, and over 1,900 elders increase access to nutritious food through Elder Nutrition Services, and more. Their full annual report is available through their website at www.mocinc.org.

“Making Opportunity Count has grown over the past several years by releasing the innovation within the organization. The organization has worked to open the door for its employees to share, develop, finance, and implement ideas and visions that otherwise would have never come to fruition,” Reed said. “It is through this practice that the organization has grown to almost 300 employees, added over $6M in new revenue, and ventured into new service areas.”

Making Opportunity Count will be launching a full-service mental health clinic this year in Fitchburg and Gardner, improving access in the North Central Massachusetts area to mental health supports while testing new and innovative methods to improve the mental health of the friends and families in the local community.

“We will [also] be opening a new 18,000 square foot early education center in the City of Fitchburg and launching a Youth Innovation Center for youth to gather in a safe place to access the latest in technology to explore their business interests and put talents to great use,” stated Reed. “We are not going to stop growing.”

“We want the community to tell us what they need and what we can do. After the new Early Education Center is up and running and the Mental Health Clinic doors open, we are ready for the next project and we will be asking our friends and family in the community to help us understand what we must do next.”

Making Opportunity Count is located at 601 River St in Fitchburg, MA and is a proud member of the North Central Massachusetts Chamber of Commerce. For more information about MOC, visit their website at www.mocinc.org.

Coronavirus Impact Survey

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In an effort to gain an accurate assessment of COVID-19’s ongoing impact to businesses in North Central Massachusetts, the North Central Massachusetts Chamber of Commerce has created this new survey. This is a follow-up to a survey conducted in March at the onset of the pandemic. The first survey was very helpful to our initial response to the pandemic. This new survey is intended to capture fresh data and dive deeper into the impact to local businesses. The Chamber is partnering with the MassHire North Central Massachusetts Workforce Board, Montachusett Regional Planning Commission, NewVue Communities and many of the cities and towns in the region on the distribution of this survey.  Please take a moment to complete the survey. The survey is estimated to take between five to ten minutes to complete. All information will be reported in general terms and individual business information will remain confidential.

Please feel free to contact the Chamber at 978.353.7600 or via email with any questions or concerns.

Thank you in advance for your participation. Click here for information and resources for businesses dealing with the Coronavirus Outbreak.

Survey Partners

Thank you to the following communities and organizations for helping to distribute the survey to businesses and organizations:

City of Gardner                       Town of Harvard

City of Fitchburg                     Town of Westminster

City of Leominster                  Town of Lancaster

Town of Clinton                       Town of Barre

Devens Community                Orange Community

Pepperell Community            Town of Winchendon

Town of Athol                          Town of Townsend

Town of Ayer                           Making Opportunities Count

Town of Lunenburg               Center for Women & Enterprise

Enterprise Bank.                    Fitchburg Redevelopment Authority

Reimagine North of Main

Weekly Download | What to Do If Zoom Goes Down Again

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Weekly Download

 

Like many of us around the globe, you’re probably used to working from home, including using Zoom, an engaging, user-friendly meeting application. However, an unexpected outage from Zoom caused thousands of workers immense frustration, as they were unable to access Zoom webinars and attended Zoom meetings.

It’s always smart to have a back-up solution, and we’ve collected four popular alternatives just in case Zoom goes down again. We looked at different tools, and evaluated the reliability, features and ease of use, the value and affordability (especially important for small businesses), and the security of each, helping reduce chances of sensitive company data being leaked.

Ring Central Video

Ring Central works well with video and phone support and has a high level of security. It’s included with RingCentral Office®, a comprehensive program that integrates cloud phone service with business numbers in over 100 countries, unlimited audio conferencing, video meetings, team messaging, and business SMS. For specialized industries, such as healthcare and insurance, or others that still rely on faxing documents, there’s also a secure, unlimited online fax feature.

With seven layers of security, it’s also excellent at protecting company files. The program integrates with dozens of apps and works seamlessly with both Microsoft and Google software, which makes it easy for users to send and receive documents in different formats.

Also included with the cost for Ring Office is employee training and 24-hour customer support – essential for employees that may be working at odd hours or who have a flexible schedule.

Microsoft Office 365 E3

This is hands-down the best tool for internal collaboration. It’s an excellent alternative to Skype for Business. This program is part of Office 365 (the premium version) and includes Microsoft Teams, which allows employees to chat online, meet via video, share files, and track the progression and timelines of certain projects. Outlook and cloud storage are also included.

However, other features like phone and audio conferencing outside of the Teams application are extra, and this software doesn’t offer business SMS or online fax capabilities, so it may not be useful for some industries. Other drawbacks include a lack of cloud service for customer engagement, although it works quite well for internal teams.

Group FaceTime

FaceTime is an easy-to-use application that many of your employees are probably already familiar with. It’s perfect if your team all use Apple products, and as far as video quality and communication it can’t be beat. It’s clean, crisp, and has excellent end-to-end encryption.

However, as a business application, it lacks the integration of other applications, such as Ring Central and Microfot Office/ Teams. Group FaceTime also lacks an office suite that make sharing files and projects easier.

Google Meet

Google Meet is ideal for file storage and sharing, and in a pinch, coupling this with Group FaceTime (even though they run on two different operating systems) can help you through times when Zoom goes down.

Google Meet integrates any number of Google-based apps, including the popular Hangouts, which works like a chat meeting in real-time. However, this program also lacks audio conferencing, business SMS, or secure online fax options. But, at just $10 per month and with the capability to support user-designed apps, Google Meet does have a lot of other advantages.

Bottom Line

Having Zoom go down can be frustrating and may even cost your business. Before (if) it happens again, it’s important to have a back-up in place, and to train your team on how to use your back-up remote office suite. This ensures that you’re prepared for the challenges that remote working can throw at you.

And that’s the download!

Fraud Prevention: Protect Yourself and Your Business

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The North Central Massachusetts Chamber of Commerce would like to remind members to always be on the lookout for possible scams and frauds. Online fraud is on the rise and businesses continue to be a target of thieves and scammers looking to exploit the COVID-19 pandemic for their gain.  Often fraudsters try to impersonate trusted institutions, like your bank/credit union, government agencies, or trusted non-profits in the community like the chamber of commerce. 

While we haven’t received any specific reports, we wanted to be proactive and alert you to the following chamber practices so that you can stay diligent and protect yourself and your business. 

  • The North Central Massachusetts Chamber will never ask you for any personal data through unsolicited emails, texts messages, pop-up windows or website banners. If you were to receive something electronically that looks suspicious and claiming it’s from the Chamber then reach out to us immediately;
  • If you ever receive a suspicious call from someone claiming to be from the Chamber or one of our affiliate organizations* (listed below) and asking for personal or financial details, then reach out to us immediately. We may occasionally call to collect or confirm information, but you should not provide any sensitive information unless you are absolutely certain that it is a legitimate call from the Chamber;
  • The North Central Massachusetts Chamber of Commerce does not utilize telemarketing firms. If you ever receive a suspicious call from a telemarketer claiming they are soliciting donations for the Chamber or saying they are updating their records, then you should contact us immediately. Do not provide any sensitive personal information;
  • The North Central Massachusetts Chamber of Commerce does not endorse any particular products, services, candidates, companies or charities other than its own affiliate organizations. Any solicitations you receive claiming that they are affiliated with the Chamber, endorsed by the Chamber, claiming their product is distributed by the Chamber or using similar language should be viewed with some level of caution. You should contact the Chamber immediately to confirm validity;     
  • The North Central Massachusetts Chamber of Commerce is an independent organization that is not affiliated with any national, state or local chamber of commerce. Anyone approaching you claiming that they are another “chapter” of the chamber or a business group that is associated with our Chamber or one of our affiliate organizations should be viewed with caution. You should contact the Chamber to confirm validity.
  • In general, we encourage you to always scrutinize unknown or suspicious emails that you receive with attachments or with requests for sensitive details or money transfers. Scammers will mask their email domains to impersonate legitimate sources. If you are suspicious about an email you receive, then you can scroll over the email address to reveal the domain. An email from the Chamber should have the domain of @northcentralmass.com. When in doubt, call to confirm the legitimacy of the email you received. 

We encourage you to continue to be alert and don’t fall for any scams that may compromise your business or personal information. For useful information regarding Coronavirus related scams, please visit the Federal Trade Commission, https://www.ftc.gov/.

*Affiliated organizations of the North Central Massachusetts Chamber of Commerce include the North Central Massachusetts Development Corporation; Johnny Appleseed Trail Association DBA Visit North Central Massachusetts; the North Central Chamber Foundation; and Chamber Insurance, Inc.  

Webinar: Financial Foundations – Budgeting & Cashflow Essentials

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Join us online on October 21, 2020 at 11:00 a.m. for a presentation and conversation to help strengthen your business’s financial foundation. Topics will include budget creation and review; how to monitor and forecast cashflow; and the internal and external financial review process. 

Bryan Acuto, Senior Manager at Cunningham & Associates will be the presenter. Bryan earned his Bachelor’s Degree in Business Management from Elmira College. He completed his Master’s Degree in Finance from Harvard University earning the Dean’s List for Academic Achievement award. Bryan’s career includes several years of general management, extensive business and financial analysis and founding a real estate investment company. Bryan’s strengths are focusing on continuous process improvement, identifying key results needed for success, and concentrating on what matters most to an organization.

The cost is just $10 for members. Pre-registration is required. For more information or to register, please visit www.NorthCentralMass.com. 

North Central Mass Development Corp Provides Funding to Moon Hill Brewing Co in Gardner

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The North Central Massachusetts Development Corporation (NCMDC) – the economic development arm of the North Central Massachusetts Chamber of Commerce – recently provided an Economic Recovery Fund (ERF) loan of $50,000 to Rick Walton, owner of Moon Hill Brewing in Gardner.  The ERF program, funded through contributions received by local community banks and credit unions, was launched by NCMDC to assist small businesses negatively impacted by the COVID-19 pandemic.  

Moon Hill Brewing Co. began in 2006 at the brewpub, Gardner Ale House, a long-time staple in the community.  Both are located at 74 Parker Street in Gardner and together serve as the only full-menu brewpub in North Central Massachusetts and Worcester County.  Moon Hill offers 14 craft  beers that can be found on tap at the Gardner Ale House as well as in many local pubs and restaurants.  This loan helped to retain 25 full time jobs and 70 part time jobs.  Moon Hill Brewing, following COVID guidelines, is open for business.  For more information visit www.moonhillbrewing.com/.

As a microloan lender, NCMDC can provide loans to small businesses up to $150,000 for working capital, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.