South Berwick, ME – This afternoon, U.S. Senator Susan Collins visited several small businesses in downtown South Berwick to meet with small business owners, employees, and local residents. Stops included Nature’s Way Market, a full-service local grocery store, and South Berwick Pharmacy Seacoast Compounding Inc., an independent, full-service, neighborhood pharmacy.
“During my visit to South Berwick today, I had wonderful discussions with members of the community. Small business owners and their employees have worked hard to keep their doors open during the COVID-19 pandemic and safely provide local residents with groceries, supplies, and services,” said Senator Collins. “Downtown businesses are the focal point of communities across our state. I am pleased that the Paycheck Protection Program I co-authored has provided forgivable loans to more than 28,000 Maine small businesses, which has helped support 240,000 jobs and strengthen our downtowns.”
The Paycheck Protection Program has been a tremendous success, providing more than $525 billion in forgivable loans to more than 5.2 million borrowers nationwide since its launch in early April. In Maine, more than 28,000 small businesses and self-employed individuals have received nearly $2.3 billion in forgivable loans, which has helped to support approximately 240,000 jobs throughout the state.
To support the hardest-hit small employers and their employees, Senators Collins and Marco Rubio (R-FL) introduced legislation that would allow the most severely affected small businesses to receive a second PPP loan. In general, eligible small employers with 300 or fewer employees that have suffered a 35 percent revenue decline could apply for a second forgivable loan.