Hanover, MA (May 28, 2020) - Over the last two months, Rockland Trust has stepped up their commitment to help small business owners through the unprecedented challenges brought on by COVID-19.
The Bank recently mobilized roughly 25% of its workforce to assist with the overwhelming demand for Paycheck Protection Program (PPP) loans. More than 350 Rockland Trust colleagues teamed together, working late nights and weekends, to secure over $800 million in loans for approximately 5,300 small businesses. The effort supported businesses who collectively employ more than 80,000 across Massachusetts and Rhode Island.
“Small businesses are the backbone of our communities. Their passion and dedication fuels our local economies and provides stability through challenging times like these,” said Robert Cozzone, Chief Operating Officer and Executive Vice President of Consumer & Business Banking. “Our colleagues were proud to be able to support the owners and employees of local businesses who have given so much to our neighborhoods over the years.”
In addition to securing PPP loans, Rockland Trust has also assisted small businesses through various contests and giveaways.
In April, the Bank announced its Small Business Giveaway, a community-based social media contest that invited members of the community to nominate a local small business that has positively impacted them and built strong relationships within their community. Within two months, the Bank awarded eight small businesses with cash prizes totaling $10,000.
The Bank also decided to move forward with a virtual version of its third annual Small Business, Big Dreams contest, a competition that gives small businesses the opportunity to win a grand prize of $20,000.
This year’s finalists for the Small Business, Big Dreams contest are Family Dinner in Somerville, MA, Maven Hair Company in Franklin, MA and Flexetail in Woburn, MA. Each of the finalists has been paired with a Rockland Trust Business Banking Officer and will receive one-on-one virtual consultation through the remaining stages of the competition. After each business gives a final presentation in June, a panel will deliberate to choose the winner of the $20,000 grand prize, and both runners-up will receive $2,500.
For information on Rockland Trust’s small business initiatives, please visit: