STATEWIDE — More than half a billion dollars in forgivable loans has been approved so far for nearly 8,000 Maine small business owners.
That’s according to a statement from Sen. Susan Collins’ office. Collins was the primary author of the Paycheck Protection Program aimed at assisting small businesses through the economic difficulties caused by the COVID-19 pandemic.
The statement said the COVID-19 relief package signed in December by former President Donald Trump included $284 billion for PPP loans across the country.
The Small Business Administration started accepting applications for this round of loans last month.
Collins said just last week more than 1,500 small Maine business owners received approval for nearly $100 million of the program’s loans.