‘Thrive Maine’ initiative to help small businesses recover pandemic

AUGUSTA, Maine (WABI) - Gov. Janet Mills has announced a plan to help small businesses recover from the pandemic.

She announced the Finance Authority of Maine will begin accepting applications for $58 million in forgivable small business loans through the “Thrive Maine” initiative of her Maine Jobs and Recovery Plan, starting Tuesday.

Under the program, eligible Maine small businesses who experienced losses, increased costs, or market interruptions as a result of the pandemic may receive a forgivable loan of up to $2 million if selected.

Awardees that follow program terms may have their loans fully forgiven over a four-year period.

Applications can be submitted online starting Tuesday morning at nine by visiting famemaine.com/thrive.