There were 10 PPP loans issued in Maine during the week ending June 21. The average loan size in the state was between $350,000 to 1 million.
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 |
|---|---|---|
| North Country Associates, Inc. | 2020-06-16 | $2-5 million |
| Samsoft | 2020-06-16 | $1-2 million |
| JS Oyster | 2020-06-16 | $150,000-350,000 |
| Arundel Marine Service | 2020-06-17 | $150,000-350,000 |
| Molly Corporation | 2020-06-18 | $150,000-350,000 |
| Market Square Health Care Center, LLC | 2020-06-19 | $1-2 million |
| Borderview Holdings Corporation | 2020-06-19 | $350,000-1 million |
| Fallbrook Residential Care Facility, Inc. | 2020-06-19 | $350,000-1 million |
| Gardiner Health Care Facility, Inc. | 2020-06-19 | $350,000-1 million |
| Schooner Retirement Community, Inc. | 2020-06-19 | $350,000-1 million |
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