Tag: The Washington Trust Co.
‘Absolute chaos’ as businesses try to tap into rescue funds
NEW YORK (AP) – Desperate small-business owners who hoped for a quick government lifeline to help them survive the coronavirus crisis are still without...
Local lenders strapped for capacity as PPP opens to new applicants
PROVIDENCE – The initial surge in applications from small business owners clambering to get their shares of a federal payroll relief program have abated...
Magaziner: Lenders shouldn’t turn away ‘orphaned’ businesses from $349B emergency program
PROVIDENCE – R.I. General Treasurer Seth Magaziner is urging Rhode Island banks, credit uniosn and other lenders to stop turning away some small businesses...
Stressed local bankers brace for overwhelming demand for new SBA loans...
PROVIDENCE – Local bankers are expecting an onslaught of demand from struggling small businesses looking to get a piece of the nearly $350 billion...
R.I. banks say they are ready to weather the coronavirus storm
PROVIDENCE – Plunging stock markets. Near-zero interest rates. An economic slowdown, social distancing and self-quarantines. Any one of these alone could spell trouble for...
What bank customers need to know: COVID-19 edition
PROVIDENCE – From reducing branch hours to deferring loan payments, banks across the state and the country are changing practices and policies in response...
Five Questions With: Kimberly McCarthy
Kimberly McCarthy was recently promoted by The Washington Trust Co. to senior vice president, chief tax and benefits officer, and head of client services...
Federal interest-rate cuts good for businesses, borrowers but bad for banks
PROVIDENCE – The emergency half-percentage-point cut in the federal interest rate is bad news for banks, at least from a revenue perspective.
The Federal Reserve’s...
Washington Trust kicks off annual peanut butter drive
WESTERLY – The Washington Trust Co. kicked off its 20th annual peanut butter drive with more than 3,000 pounds of peanut butter at a...
SBA: Citizens, BankNewport top list of lenders to R.I. small...
PROVIDENCE – Citizens Bank was the top lender to Rhode Island small businesses through the U.S. Small Business Administration’s 7a loan program from Oct....
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