Deadline to Submit PPP Loan Applications Is Approaching

June 24, 2020 |

The deadline to apply for a Paycheck Protection Program (PPP) loan is fast approaching. Money is still available, but loan applications must be submitted by June 30.

As of June 20, the Small Business Administration (SBA) reports Maine lenders have issued 26,400 loans, accounting for $2,228,185,817. Nationally, over 4.6 million loans have been issued.

Earlier this week, the SBA and the Department of Treasury announced plans for disclosing PPP loan data. The SBA will disclose the business names, addresses, North American Industry Classification System (NAICS) codes, zip codes, business type, demographic data, non-profit information, jobs supported, and loan amounts in each of the following loan categories:

  • $150,000 – $350,000
  • $350,000 – $1 million
  • $1 – $2 million
  • $2 – $5 million
  • $5 – $10 million

To read the full announcement, click here.