Senator Collins speaks to Matt Gagnon about Paycheck Protection Program. Senator Susan Collins, a member of the Small Business Coronavirus Task Force, announced Wednesday that $2.3 billion in forgivable Paycheck Protection Program (PPP) loans have been approved for a total of 18,247 small employers in Maine
On Monday, SBA resumed accepting PPP applications now that legislation Senator Collins negotiated to increase funding for PPP by $320 billion has been signed into law. In the two days since the program restarted, an additional 1,548 Maine small employers were approved for $60.5 million in forgivable loans. The average loan was approximately $39,000, with an estimated average business size of fewer than four employees. This group also includes a number of self-employed individuals.
