Mechanics Cooperative Bank awards $100K in grants to local small bizs

MECHANICS COOPERATIVE BANK recently awarded $100,000 in grants to several small businesses hurt by the pandemic, including $20,000 to Avila Textiles. Pictured from left are Manuel Avila, Avila Textiles founder and owner, with Mechanics Cooperative Bank Commercial Lending Officer Anthony Medeiros and Retail Sales Manager Karen Capelo. / COURTESY MECHANICS COOPERATIVE BANK

TAUNTON – Mechanics Cooperative Bank recently awarded $100,000 in grants to several small businesses hurt by the COVID-19 pandemic, according to a news release.

The bank received the funding through the Federal Home Loan Bank of Boston’s Jobs for New England Recovery Program, which offers FHLB Boston members below-market-rate financing to help small businesses preserve or create jobs, typically through loans.

The grants, which ranged from $5,000 to $30,000, were designated for working capital purposes, such as payroll, COVID-19 expenses, debt service, utilities and inventory. They were awarded on a first-come, first-serve basis.

Recipients include The Grove Street Tavern in Taunton, which received a $15,000 grant, and Avila Textiles in Dighton, which received a $20,000 grant. Other benefiting businesses were not immediately available.

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Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.

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