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Despite Coronavirus, Saugus Business Is Blooming

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Despite Coronavirus, Saugus Business Is Blooming THURSDAY, MAY 28, 2020 NSCC distributing $1.7M to students Payroll By Gayla Cawley North Shore Community College aims to $247,286 in funds that have been ITEM STAFF to distribute the entirety of the $1.7 mil- awarded. plan helps lion it has received from the federal De- Students are eligible for grants be- LYNN — North Shore Community partment of Education for student Emer- tween $300 to $700, with amounts deter- College is distributing funds to students gency Financial Aid Grants. mined by enrolled credits and individual who have experienced nancial hard- “We want to make sure that students need, according to Susan Sullivan, NSCC boost ship due to the COVID-19 pandemic and know about this important resource director of nancial aid. the resulting cancellation of traditional available to them,” NSCC President Dr. To qualify, students must be registered classes. Patricia A. Gentile said in a statement. for spring or summer courses and pro- The college estimates that 2,957 stu- “We have a lot of federal funding to dis- vide an explanation of expenses related economy dents are eligible for the emergency tribute and our students need it now to the disruption of NSCC services and grant funding, which NSCC received in when they are experiencing the very real face-to-face instruction. April through the Coronavirus Aid, Re- impacts of COVID-19.” For example, applicants could demon- lief, and Economic Security (CARES) Act As of Wednesday, NSCC has approved strate that they had to purchase a laptop, with $1.3B that was passed by Congress and signed 79 percent of the 663 applications that into law by President Donald Trump. students have submitted, which amounts NSCC, A5 By David McLellan ITEM STAFF It’s an unprecedented amount of money pumped into the economy very quickly, and bankers are hoping it keeps people employed and with mon- ey in their wallets. More than $1.3 billion has been lent by local banks through the Paycheck Protection Program (PPP), which is facilitated by the U.S. Small Business Administration. The PPP was established as part of the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in a bipartisan effort to encourage businesses to keep payroll stable and retain employees, even if those busi- nesses were hurt nancially during the COVID-19 pandemic. The program isn’t perfect, but local bankers are touting it as a gesture of goodwill to area businesses. “Desperate times require all of us to buck up,” said Joseph Riley, executive vice president for Salem Five. “I was there night after night getting this money in peoples’ hands, and every single one of these loans we did, we knew represented peoples’ jobs and money in their pockets.” The program allows businesses to ap- ply for and receive low-interest loans Despite coronavirus, Saugus to cover certain costs — payroll, rent, interest, and utilities. If a business receiving a PPP loan meets certain thresholds, such as spending at least business is blooming 75 percent of the loan on payroll costs, much of the loan — up to 100 percent By Elyse Carmosino It seemed everyone was bracing for a Stephanie Alimonti — may be forgiven by the SBA. If a ITEM STAFF historically slow season. of Revere is framed business does not meet the spending “I had a couple big centers call and say by owers as she thresholds outlined in the PPP, they SAUGUS — At the start of this year’s ‘we’ve got too much stuff,’’’ Huberman said. shops at Huber- will have to pay the loan back with a 1 gardening season, Saugus’ Allan Huber- “I had one store call me, and the (person) man’s Greenhouses percent interest rate. man worried his garden center was about said, ‘they don’t want us to handle any in Saugus. Loans are approximately 2.5 times to take a heavy hit from the COVID-19 more plants after the 30th.’” the size of a business’ average month- pandemic. Within weeks, however, Huberman’s ITEM PHOTO | SPENSER HASAK ly payroll costs, with that average Things seemed bleak as the nursery own Vine Street nursery, which he sets up monthly cost determined using a busi- owner and wholesale plant supplier said each year on the plot of land in front of ness’ numbers from last year. many of his major retail customers began his four large greenhouses, was lled with Eastern Bank has been the largest to pull out one by one, with some cutting customers drawn to the vast and colorful lender in the program in the area, having their orders in half and others canceling outright. SAUGUS, A5 ECONOMY, A2 Virus death toll up to Open house offers input for Lynn housing plan 88 in Lynn, A3 By Gayla Cawley June 8 at 5 p.m., which organizers say city’s affordable housing stock, kicked off Poll: Residents ITEM STAFF should give residents suf cient time to par- last September and is scheduled to wrap up ticipate in the survey. in October. predict fewer trips in LYNN — Lingering social distancing re- “Moving forward with the work on this plan Jeff Weeden, LHAND’s planning and de- the future, A3 strictions have shifted how the city is col- is especially challenging during this unprec- velopment manager, said the Lynn Hous- lecting public input during the development edented time, but now, more than ever, do ing Authority and MAPC are on track to Cawley: First haircut of its ve-year housing production plan. we, as a community, need to focus on those meet that deadline, but acknowledged that Lynn Housing Authority & Neighborhood with vulnerable housing situations,” Mayor the COVID-19 pandemic might alter those during coronavirus Development, the city, and the planning Thomas M. McGee said in a statement. “I plans. pandemic, A4 consultant, the Metropolitan Area Planning encourage all residents to participate in this Public forums in the fall and winter drew Council, launched a virtual open house last virtual open house and continue to provide large crowds, but since large gatherings are KIPP holds drive- week aimed at collecting feedback for “Hous- their input in this important public process.” still banned, the city has turned this and ing Lynn: A plan for inclusive growth.” The yearlong planning process for the through graduation The open house will expire on Monday, future document, aimed at increasing the HOUSING, A3 ceremony, A7 Saugus School board Peabody company Lynn eld turns high school over to town, A3 counts Conan water limits Turkey ies through window of home. A5 among its fans in effect LOOK! By Thor Jourgensen LYNNFIELD — The Lynn eld Wahlburgers ITEM STAFF Center Water District (LCWD) at the YMCA for is reminding town residents those in need. A8 PEABODY — When Conan O’Brien got antsy that seasonal water use restric- from living in coronavirus quarantine, he turned tions went into effect May 1 and Lynner produces to Sully’s Brand for some fun and distraction. will remain in place until Sept. Virtual Reading of The T-shirt and logo paraphernalia busi- 30. play about Bubonic ness that shares space with a record label in A Level 2 restriction is in Plague. A8 the former Foster Street industrial center sent place at this time, meaning out- O’Brien a “quarantine care package,” including door lawn and garden watering Greenbelt’s Art a Conan-centric T-shirt. is only allowed from 8 p.m. to 6 in the Barn goes With its bright-red “Boston” logo, the shirt’s art a.m. throughout the week. online June 8-17. A8 depicts O’Brien’s father knocking a hot dog out “With many families home on a ITEM PHOTO | SPENSER HASAK Sports of his son’s hand after former Red Sox left elder more consistent basis and warm- Lynn eld’s Ferrante Jim Rice dropped a y ball. Another Sully’s shirt Chris Wrenn, owner and founder of Sully’s Brand er weather fast approaching, commits to Carnegie featuring an image of the Zakim Bridge earned and Bridge Nine records, had one of the brand’s water consumption throughout Mellon, B1 T-shirts featured in Conan O’Brien’s opening PEABODY, A2 monologue last week. LYNNFIELD, A3 OBITUARIES ..............................A2 LOOK! .......................................A8 DIVERSIONS .............................B5 HIGH 81° VOL. 141, ISSUE 141 OPINION ...................................A4 SPORTS ................................ B1-2 CLASSIFIED ...............................B6 LOW 66° POLICE/FIRE .............................A5 COMICS ....................................B4 BUSINESS ................................B8 PAGE A8 $1.50 A2 THE DAILY ITEM THURSDAY, MAY 28, 2020 OBITUARIES Payroll plan helps boost economy with $1.3B Domenic Saraceno ECONOMY 1928-2020 From A1 Polls: Minorities struggle Domenic “Eddie” Saraceno, done approximately 8,000 formerly of 39 Wheeler St. loans at a total of approx- (The Brickyard), Lynn, died imately $1.1 billion, ac- to secure PPP loans peacefully at his home, in cording to Quincy Miller, Burbank, Calif. Eastern Bank vice chair By David McLellan businesses have their PPP cash in hand, For full obituary, funeral and president. ITEM STAFF 6 percent were approved and are await- video & photos: Forest Lawn “To give you some per- ing cash, 19 percent are awaiting ap- A compilation of polls about the Pay- proval, 8 percent were denied, and 6 per- Hollywood/Domenic H. Sara- spective, before this we did check Protection Program (PPP) shows cent tried to apply, but their banks were ceno. roughly $500 million in SBA loans in 10 years. So, that minority business owners and mi- unable to process their applications. in less than two months, nority women nd it particularly dif - For small businesses owned by mi- we’ve done 8,000 loans for cult to secure PPP loans.
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