Bangor Savings Bank will require vaccination for new hires
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Bangor Savings Bank will require vaccination for new hires
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By Staff
Small lenders in Maine and throughout the U.S. on Friday will be able to begin writing a new round of loans through the Paycheck Protection Program, and lenders of every size can start Tuesday.
The U.S. Small Business Administration will reopen the PPP loan portal to eligible institutions with $1 billion or less in assets at 9 a.m. Jan. 15, according to a news release Thursday. The portal will fully open on Jan. 19 for all PPP lenders to submit First and Second Draw loan applications to the SBA.
The new loans will provide up to $284 billion toward job retention and certain other expenses through March 31, the SBA said Tuesday. First Draw loans are for small businesses that did not participate in the first round of lending last summer, and Second Draw funds are for eligible borrowers that also received previous funds.