There were 15 PPP loans issued in Maine during the week ending May 10. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Maine Maritime Academy | 2020-05-04 | $2-5 million |
| Penobscot Valley Hospital | 2020-05-04 | $1-2 million |
| Protocall Contact Services, Inc. | 2020-05-04 | $150,000-350,000 |
| Redzone Wireless, LLC | 2020-05-04 | $150,000-350,000 |
| Rick's Cafe, LLC | 2020-05-04 | $150,000-350,000 |
| Bentley's Saloon, LLC | 2020-05-05 | $150,000-350,000 |
| Concordia Partners, LLC | 2020-05-05 | $150,000-350,000 |
| Southern Maine Dental, P.A. | 2020-05-05 | $150,000-350,000 |
| Maine Automation Incorporated | 2020-05-06 | $350,000-1 million |
| C. A. Newcomb & Sons Fence & G | 2020-05-06 | $150,000-350,000 |
| Sexual Assault Prevention and Response Services | 2020-05-06 | $150,000-350,000 |
| Tri-State Insulation, Inc. | 2020-05-07 | $350,000-1 million |
| Direct Community Care PA, LLC | 2020-05-07 | $150,000-350,000 |
| Purrfect Pets II, P.A. | 2020-05-07 | $150,000-350,000 |
| Sweettome, Inc. | 2020-05-08 | $150,000-350,000 |
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