Sen. Collins announces over $601 million in PPP loans heading too Maine small employers

BANGOR, Maine (WABI) - Local businesses across Maine are getting some much-needed assistance.

Wednesday, Sen. Susan Collins announced that more than 85-hundred Maine small employers have been approved for a total of more than $601 million in forgivable PPP loans.

The money comes from Paycheck Protection Program, which reopened last month.

Starting today, under a new Biden Administration policy, there will be a two-week period during which only businesses with fewer than 20 employees may apply for a PPP loan.

Collins says the latest numbers show that nearly 1,000 small businesses in Maine have received nearly $50 million in just one week.