Hello, this is Governor Janet Mills.
From increased costs to nationwide and worldwide supply chain disruptions and workforce issues across the country, many small businesses are facing unexpected hurtles and we need to help them.
To ensure that our small businesses here in Maine can continue to recover from the pandemic despite worldwide economic disruptions, I recently announced I am dedicating $58 million through my Maine Jobs & Recovery Plan to provide forgivable loans to small businesses in Maine.
This new “Thrive Maine” program, administered by the Finance Authority of Maine, will offer forgivable loans to eligible Maine small businesses who experienced losses, increased costs, or market interruptions related to the pandemic.
Small businesses may apply for loans of up to $2 million. And if businesses are approved and continue to meet program terms, these loans may be fully forgiven over a four-year period.
Full eligibility details and other information can be found at www.famemaine.com/thrive. The program is expected to start accepting applications in early September.
These grant funds are in addition to the $62 million “Grow Maine” initiative which I announced earlier this summer. All together we’ve provided $120 million to help Maine small businesses succeed here in Maine.
I encourage all small businesses who might be struggling with worldwide economic disruptions and with the effects of the pandemic to visit FAME’s website – famemaine.com/thrive – to see if they might be eligible for this relief.
My Administration will continue to do everything we can to support the long-term success of our small businesses across the state.
This is Governor Janet Mills. Thank you for listening.