News

Collins among group of senators who want to expand small business loans


PORTLAND, Maine (AP) Maine’s Republican senator has joined an effort to expand loan relief for small businesses that have been affected by the coronavirus pandemic.

Sen. Susan Collins said her proposal would bring expanded relief measures for one year to a federal Small Business Administration loan program that is the primary one for assisting small businesses.

The proposal would make key changes to the program, such as waiving borrower and lender fees. It would also increase the maximum loan value from $5 million to $10 million, and increase the government guarantee to 95%.

Collins introduced the proposal with fellow Republican Sens. Marco Rubio, of Florida, and Jim Risch, of Idaho. Collins said the coronavirus pandemic β€œis tragically forcing many families to close the doors to their small businesses that they have spent years or even generations to build.”

Latest Headlines

8 hours ago in Local

South Berwick Suspect Arrested After Hours-Long Manhunt

Officers say they were called to a domestic disturbance on Warren Pond Road.

8 hours ago in Local

Two Woman Arrested at York County Home Where Original Suspect Was Not Located

Deputies say they went to a home on South Waterboro Road in search of a woman wanted for theft.

11 hours ago in Local

Victim in fatal fire in Penobscot County identified

Investigators have identified the victim who died in a fire in the town of Winn.

11 hours ago in Local

Bail denied for Eliot Cutler after multiple violations of release conditions

A judge has denied Eliot Cutler's attempt to amend his bail conditions.

12 hours ago in Entertainment, Trending

‘Ketamine Queen’ gets 15 years in prison for selling Matthew Perry the drugs that killed him

A federal judge on Wednesday handed down a sentence of 15 years in prison to a woman who pleaded guilty to selling "Friends" star Matthew Perry the ketamine that killed him in 2023.