The needs at food banks are increasing daily and thru generous donations of TAM members we are privileged to be able to provide a donation of $1,000 to the St John’s Food for the Poor Program in Worcester.

The program at the unique St. Francis Xavier Center in Worcester, Massachusetts is a nonprofit charitable organization. Volunteers serve up to 700 hot nutritious meals a day, five days a week. Free food and support programs are available to any man, woman or child in need of food regardless of race, color, creed, gender or way of life.

The organization is headed by Fr. John Madden, pastor of St. John’s Church, Bill Riley, manager of the St. Francis Xavier Center and Frank Carroll, chairman of the St. John’s Food for the Poor Committee. They have put together an army of volunteers including active and retired executives; experienced food service managers; restaurant owners; finance, marketing, advertising, legal, human resources and medical professionals; and many other willing hands to make our organization function.

To learn more and to donate your time or resources to this organization, please visit their website.

The Federal Reserve recently expanded the Main Street Lending Program expanding the pool of businesses eligible. The minimum loan size has been lowered to $500,000 for certain loans, and increased risk sharing options are available.

From the press release…

The Federal Reserve Board on Thursday announced it is expanding the scope and eligibility for the Main Street Lending Program. As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic.

When the initial terms of Main Street were announced, the Board indicated that, because the financial needs of businesses vary widely, it was seeking feedback from the public on potential refinements. More than 2,200 letters from individuals, businesses, and nonprofits were received. In response to the public input, the Board decided to expand the loan options available to businesses, and increased the maximum size of businesses that are eligible for support under the program. The changes include:

Creating a third loan option, with increased risk sharing by lenders for borrowers with greater leverage;
Lowering the minimum loan size for certain loans to $500,000; and
Expanding the pool of businesses eligible to borrow.
Under the new loan option, lenders would retain a 15 percent share on loans that when added to existing debt do not exceed six times a borrower’s income, adjusted for interest payments, taxes, and depreciation and other appropriate adjustments. This compares to the existing loan options where lenders retain a 5 percent share on loans, but have different features. Under all of the loan options, lenders will be able to apply their industry-specific expertise and underwriting standards to best measure a borrower’s income. In total, three loan options—termed new, priority, and expanded—will be available for businesses.

For the full press release and a chart summarizing the different loan options, go to the Federal Reserve’s website.

In the spirit of Haulin’ 4 Hunger, ATG is partnering with the Worcester Railers Hockey Club to support their Food for Frontliners program. Each Monday for six weeks, ATG – a long-time supporter of TAM – will donate food and gift cards purchased from local restaurants to help those struggling to feed themselves and to provide meals for those working to help others.

The Railers will use their ATG-sponsored van to deliver all food donations to organizations throughout central Massachusetts, with ATG’s donations going directly to food pantries, healthcare workers and cleaning staff at hospitals and to local fire and police departments.

Here is the full press release from the Railers.

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WORCESTER, MA – The Worcester Railers Hockey Club, proud ECHL affiliate of the New York Islanders officially announced today that the club has unveiled a new program called the Railers HC Food for Frontliners.

Through the Railers HC Food for Frontliners, the hockey club will purchase over $10,000 worth of food to be donated to local organizations throughout central Massachusetts. In addition, Advantage Truck Group – ATG of Shrewsbury has pledged to donate food and gift cards from local restaurants to the program every Monday through the end of May which includes a donation to the Saint John’s Food for the Poor program of Worcester.

The Worcester Railers HC will purchase food from their partners for local community organizations in need and meals for the staff working on the frontlines of this pandemic. The Railers will make their deliveries with the Railers HC Equipment Van presented by ATG.

“The Railers wanted to find a way to help those in need and thank those community members on the front lines,”said Railers president and COO Mike Myers. “I want to thank ATG for their partnership of this program as we look forward to supporting our community during this time of need.”

“ATG has a strong tradition of giving back and is committed to fighting food insecurity in our local communities, so it was important to partner with the Railers to help support our food pantries and feed those dedicated to serving others during this crisis,” said ATG president and CEO Kevin Holmes. “We are truly inspired by those working on the front lines in our community and proud to join this effort to show our appreciation for all they are doing.”

If you know a community organization that may need food or any frontliners that could use a THANK YOU meal, please contact Worcester Railers HC Community Manager Paul Harris at [email protected].

The Worcester Railers home opener is Saturday, October 24 vs. the Brampton Beast! Stay safe…..and for the most up to date information on all things Railers – please visit www.RailersHC.com or follow our social media channels.

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