Amanda and Ryan Hill own a wrap shop near the Memorial Circle rotary in Augusta, but they d always had their eye on downtown. That dream was about to come true a year ago when a closing on Water Street space was canceled as the pandemic hit.
Timing is never good the young couple have two toddlers and have worked hard to keep the sandwich shop open the past year but when the Hills had another chance this spring on a downtown space this spring, they didn t hesitate. I ve been wanting to be down here since we moved here five years ago, Ryan Hill said Tuesday as he and Amanda set up for Wednesday s ribbon-cutting at Wrapped Up Coffee House, 216 Water St.
Biz Bites: Thompson s Point buzz, UMA architectural Earth Day, more
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Puritan grows southward: Workforce, incentives made Tennessee right fit for expansion
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A year ago, companies were just starting to make their revised sales projections for the year.
When the federal government quickly stepped in with the Paycheck Protection Program, the Small Business Administration and banks scrambled to figure out how to dispense the money. Businesses went into overdrive trying to figure out how to get loans. There were a lot of sleepless nights. In the first round of lending alone, some 28,000 Maine businesses received $2.3 billion in loans.
For our cover story, Renee Cordes takes us behind the scenes to show what it was like as bankers and businesses tried to make sense out of the pandemic chaos and the PPP loans. Lending officers, many of whom were now working from home, rushed to help clients take advantage of the program before the money was snapped up. As one business owner told Renee, “The biggest concern we all had was that the money would run out that first weekend” of lending. See “Loan rangers,” which starts on Page 16.
The pizza model leads Yarmouth craft brewery to Portland expansion
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