UCU awards $ 50,000 in JNE recovery grants to small businesses in Maine

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University Credit Union announced $ 5,550 in recovery grants to nine healthcare, hospitality, education and telecommunications organizations in central and southern Maine to help them reopen or stay in activity, hire and / or retain staff and recover from the COVID-19 pandemic. The grants were funded by Jobs for New England, a program of the Federal Home Loan Bank of Boston.

Grant recipients include a Brunswick-based prosthetics and orthotics manufacturer; a social services agency based in Biddeford; a Portland-based optical supply store; a Cape Elizabeth-based health consultancy firm; a Portland-based sober living community; a telecommunications installation company based in Corinna; a non-profit organization based in Orono; a restaurant based in South Portland; and a Lewiston-based network of dental professionals who provide direct on-site dental care to communities, school doctor’s offices, churches, nursing homes and summer camps.

“We recognize how extremely difficult the past year has been for small businesses in Maine, especially those in the healthcare, hospitality and education industries,” said Derek Hebert, director of business services. of the UCU. “We’re excited to be able to provide welcome relief so business owners can focus on the recovery.”

Jobs for New England Grants are awarded to eligible applicants through financial institutions that are members of the Federal Home Loan Bank of Boston. Since 2016, more than 130 New England financial institutions have used JNE funding to help create or maintain jobs and grow small businesses owned by women, minorities or veterans.

“I am extremely happy and grateful that UCU is here to help VIP EYES stay afloat and make things work during these trying times. I can honestly say that VIP EYES wouldn’t be where we are today without UCU, ”said Todd Lapointe, JNE grant recipient, from Portland-based VIP EYES.

“UCU has been eager to help my business since the start of the pandemic. Over the past year, UCU has proactively provided me with information regarding COVID-19 SBA commercial loan options, which has been very helpful as I didn’t have time to dig up all of the information myself! Derek provided incredible assistance with our PPP loan and the administrative process was easy and efficient. Most recently, UCU helped administer an FHLB grant at my location in South Portland that I wouldn’t have known without UCU, ”said JNE grant recipient Dewey Hasbrouck of South Portland-based Moe’s Original BBQ.

The JNE Recovery Grant program offers FHLBank Boston and our members a unique opportunity to help the local economy in a more direct way by providing cash assistance to help small businesses, nonprofits and homeowners. affordable to stay in business and / or recover from the pandemic. , according to the Federal Home Loan Bank of Boston.

University Credit Union is an innovative full-service cooperative institution designed to improve the financial well-being of its member-owners at every stage of life. UCU is Maine’s sixth largest credit union in terms of total assets and total membership and has eight retail outlets across the state located in Orono, Bangor, Farmington, Gorham, Portland and Presque Isle. For more information, visit http://www.ucumaine.com.


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