Second round of PPP loans approves $ 221 million in Maine in first two weeks

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WASHINGTON, DC (WABI) – The reopening of forgivable loans offered under the Paycheck Protection Program is helping local businesses cope with losses associated with the COVID-19 pandemic.

Senator Susan Collins announced today that more than 24 hundred small businesses in Maine have been approved under the latest round of loans.

Between January 11 and 24, $ 221,560,725 was approved for employers in Maine.

“Maine’s small business PPP request in the first two weeks of the program reopening underscores its vital importance,” Senator Collins said. “During the COVID-19 pandemic, these forgivable loans were a lifeline for tens of thousands of small businesses and supported hundreds of thousands of jobs in our state. Many small businesses, especially those in the hospitality industry, continued to struggle during the ongoing health and economic crisis, which is why I have strongly advocated for the extension of PPP. I encourage small businesses to contact their participating financial institution to apply. “

Last year, more than 28,000 businesses and self-employed people in Maine received nearly $ 2.3 billion in P3 loans.

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