April 06, 2020
From The Eagle Tribune: HAVERHILL — Pentucket Bank commercial lenders got a jump on procuring loans for the bank’s customers through the Small Business Administration’s new Paycheck Protection Program, a $349 billion emergency loan program created last week with the president’s signing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
One of the first businesses to secure funding was the nonprofit UTEC organization, which works with high-risk young adults in Lowell, Lawrence and Haverhill who have past criminal involvement to reduce recidivism and increase their educational and employment goals.
UTEC CEO Gregg Croteau said the loan he will receive will go to keeping about 55 staff on the job, at least for the next eight weeks as the program requires.
Read the full article HERE
For full details on our covid response and the UTEC Family Fund, click HERE