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Lending institutions that are already approved for the SBA 7a program

3/31/2020

3 Comments

 
The lending institutions that are already approved for the SBA 7a program will be the ones authorized for the Paycheck Protection Program. Below is the list of 7a approved institutions in Maine. Credit unions are not 7a lenders but are trying to get approved; most all banks in Maine are already approved lenders. Updated 4/27/2020

Lender Name

Headquarters City

Headquarters State

Acadia FCU

FORT KENT

ME

Androscoggin Savings Bank

LEWISTON

ME

Aroostook County Federal Savings & Loan Association

CARIBOU

ME

Atlantic Capital Bank, NA

ATLANTA

GA

Atlantic Regional FCU

BRUNSWICK

ME

Auburn Savings Bank, FSB

AUBURN

ME

Bangor Savings Bank

BANGOR

ME

BankUnited NA

MIAMI LAKES

FL

Bar Harbor Bank & Trust

BAR HARBOR

ME

Bar Harbor Savings & Loan Association

BAR HARBOR

ME

Bath Savings Institution

BATH

ME

Berkshire Bank

BOSTON

MA

Biddeford Savings Bank (Division of Maine Community Bank)

BIDDEFORD

ME

Brewer FCU

BREWER

ME

Byline Bank

CHICAGO

IL

Cambridge Trust Company

CAMBRIDGE

MA

Camden National Bank

CAMDEN

ME

Celtic Bank Corporation

SALT LAKE CTY

UT

CIBC Bank USA

TORONTO

CANADA

Citizens Bank

PROVIDENCE

RI

Connected CU

Augusta

ME

Cornerstone Bank

YORK

NE

cPort CU

Portland

ME

Damariscotta Bank & Trust Company

DAMARISCOTTA

ME

Eastern Bank

BOSTON

MA

Eastern Maine Development Corp.

BANGOR

ME

Eastmill FCU

EAST MILLINOCKET

ME

Evergreen CU

PORTLAND

ME

FinWise Bank

SANDY

UT

First Chatham Bank

SAVANNAH

GA

First Federal Savings & Loan Association of Bath

BATH

ME

First Home Bank

ST. PETERSBURG

FL

First National Bank

DAMARISCOTTA

ME

First State Bank Nebraska

HICKMAN

NE

FirsTrust Savings Bank

CONSHOHOCKEN

PA

Five County CU

Bath

ME

Five Star Bank

WARSAW

NY

Franklin Savings Bank

FARMINGTON

ME

Gorham Savings Bank

GORHAM

ME

Independence Bank

HENDERSON

KY

Infinity FCU

WESTBROOK

ME

Katahdin FCU

MILLINOCKET

ME

Katahdin Trust Co.

PATTEN

ME

Kennebec Savings Bank

AUGUSTA

ME

Kennebunk Savings Bank

KENNEBUNK

ME

KeyBank National Association

CLEVELAND

OH


KSW FCU

WATERVILLE

ME

Legacy Bank & Trust Company

CLINTON

MO

Lincoln Maine FCU

Lincoln

ME

Live Oak Banking Company

WILMINGTON

NC

Machias Savings Bank

MACHIAS

ME

Machias Savings Bank

MACHIAS

ME

Maine Community Bank

BIDDEFORD

ME

Maine Family FCU

LEWISTON

ME

Maine Savings FCU

HAMPDEN

ME

Maine State CU

Augusta

ME

Manufacturers and Traders Trust Company

BUFFALO

NY

Mechanics Savings Bank (Division of Maine Community Bank)

AUBURN

ME

Meredith Village Savings Bank

MEREDITH

NH

Merrimack Valley FCU

HAVERHILL

MA

New Dimensions FCU

WATERVILLE

ME

Newburyport Five Cents Savings Bank

NEWBURYPORT

MA

Newtek Small Business Finance, Inc.

LAKE SUCCESS

NY

NorState FCU

MADAWASKA

ME

Northeast Bank

LEWISTON

ME

Northway Bank

BERLIN

NH

Norway Savings Bank

NORWAY

ME

Optima Bank & Trust Company

PORTSMOUTH

NH

Partners Bank

SANFORD

ME

Penobscot County FCU

OLD TOWN

ME

People's United Bank

BRIDGEPORT

CT

Primary Bank

BEDFORD

NH

Readycap Lending, LLC

NEW PROVIDENCE

NJ

Rockland Savings Bank, FSB

ROCKLAND

ME

Saco & Biddeford Savings Institution

SACO

ME

Seaboard FCU

BUCKSPORT

ME

Seacoast National Bank

STUART

FL

Sebasticook Valley Federal Credit Union

Pittsfield

ME

Skowhegan Savings Bank

SKOWHEGAN

ME

State Bank and Trust Company

MACON

GA

Stearns Bank National Association

ST. CLOUD

MN

Strafford Economic Development Corp.

DOVER

NH

TD Bank

CHERRY HILL

NJ

The County FCU

PRESQUE ISLE

ME

The Provident Bank

JERSEY CITY

NJ

United Midwest Savings Bank

COLUMBUS

OH

University CU

ORONO

ME

Wells Fargo Bank NA

SAN FRANCISCO

CA

 

3 Comments

From the office of Governor Janet T. Mills

3/31/2020

0 Comments

 
​March 31, 2020
Contact: Scott Ogden and Lindsay Crete
 
Governor Mills Issues Stay Healthy at Home Mandate
Also orders a series of additional requirements to protect public health and safety in the face of COVID-19
 
Augusta, MAINE – Governor Janet Mills today issued a series of substantial new mandates to protect public health and safety in the face of COVID-19, including a Stay Healthy at Home directive that requires people living in Maine to stay at home at all times unless for an essential job or an essential personal reason, such as obtaining food, medicine, health care, or other necessary purposes.
 
The Governor also mandated a series of other new restrictions, including:

  • For essential businesses and operations that remain open, limiting the number of customers in their buildings at any one time, implementing curb-side pickup and delivery options as much as possible, and enforcing U.S. CDC-recommended physical distancing requirements for their customers and employees in and around their facilities.
 
  • Prohibiting the use of public transportation unless for an essential reason or job that cannot be done from home and limiting the number of people traveling in private vehicles to persons within the immediate household unless transporting for essential activities.
 
  • Mandating the continued termination of classroom or other in-person instruction until at least May 1, 2020.
 
  • Mandating that, when out of the home or when at work at an essential business, individuals shall maintain a minimum distance of six feet from other persons.
The Executive Order takes effect at 12:01 a.m. on April 2, 2020 and will last until at least April 30, 2020. The Governor may amend, rescind, or renew this timeline at her discretion. The Governor also extended the closure of restaurants and bars statewide for dine-in customers until at least April 30, 2020 to align with today’s Executive Order.
 
“We are in the midst of one of the greatest public health crises this world has seen in more than a century. This virus will continue to sicken people across our state; our cases will only grow, and more people will die. I say this to be direct, to be as honest with you as I can. Because saving lives will depend on us,” said Governor Mills. “I implore you – look to yourself, your family, your friends, your loved ones, your neighbors on the front lines, first responders and health care workers fighting the virus, those who can’t stay home; the children who live around the corner, the farmer who grows your food, the grocer and the pharmacist who sell you goods, the teachers who are missing their kids; the fisherman, the sailor, the truck driver, the janitor, the waitress at your favorite diner; these are the people you are protecting by staying home. This is who you are saving.”
                
The Governor’s Executive Order enacts the following:
 
Stay Healthy at Home Directive
 
Governor Mills’ “Stay Healthy at Home” Executive Order requires that Maine people remain at home unless to leave for an essential job or an essential activity.
 
Essential jobs are defined under Governor Mills’ March 24 Executive Order outlining essential businesses and operations. The Governor’s Executive Order today updates the March 24 Executive Order to adopt into effect the most recent Guidance on Essential Critical Infrastructure Workforce from the U.S. Cybersecurity and Infrastructure Security Agency.
 
Essential personal activities include the following with relation to an individual, their family, household members, pets, or livestock:

  1. Obtaining necessary supplies for household consumption or use, such as groceries, and supplies and equipment needed to work from home, laundry, and products needed to maintain safety, sanitation, and essential maintenance of the home or residence.
 
  1. Obtaining medication or medical supplies and seeking medical or behavioral health or emergency services.
 
  1. Providing care, including transportation, of oneself, a family member, friend, pet or livestock in another household or location for essential health and safety activities and to obtain necessary supplies and services.
 
  1. Traveling to and from an educational institution for purposes of receiving meals or instructional materials for distance learning.
 
  1. Engaging in outdoor exercise activities, such as walking, hiking, running, or biking, but, only in compliance with the social gathering restriction in Executive Order 14 and all applicable social distancing guidance published by the U.S. and Maine Centers for Disease Control and Prevention.
 
  1. Travel required by a law enforcement officer or court order; and
 
  1. Traveling to and from a federal, State, or local government building for a necessary purpose.
Travel Restrictions
 
The Order prohibits the use of public transportation unless for an essential reason or job that cannot be done from home and limits the number of people traveling in private vehicles to persons within the immediate household unless transporting for essential personal activities.
 
Termination of In-Person Instruction at Schools
 
Public and private schools and higher education institutions statewide have terminated in-classroom instruction in accordance with the Governor’s March 15 recommendation. The Governor today ordered that all such schools shall continue to cease classroom or other in-person instruction until at least May 1, 2020, or until further Order.
 
Restricting Number of People in Essential Stores
 
Governor Mills’ Executive Order restricts the number of people allowed at essential businesses at any one time, mandates that they conduct as much business as possible by curbside order and pick up or delivery to limit in-person contact, and enforce physical distancing in and around their facilities by prominently posting signs at public entrances and on the floor to notify customers to stay six-feet apart. It also requires that they disinfect the handles of every cart and basket between uses, minimize customer handling of unpurchased merchandise and offer separate operating hours for Maine people over the age of 60 and those with underlying medical conditions.
 
Under the Executive order, essential stores with retail spaces of:

  • Less than 7,500 square feet limit the number of customers in the store at one time to 5. Examples of such stores include gas stations and convenience and specialty food stores.
  • More than 7,500 and less than 25,000 square feet limit the number of customers in the store at one time to 15. Examples of such stores include stand-alone pharmacies and certain hardware stores.
  • More than 25,000 and less than 50,000 square feet limit the number of customers in the store at one time to 50.  Examples of such stores include mid-sized and locally owned grocery stores.
  • More than 50,000 and less than 75,000 square feet limit the number of customers in the store at one time to 75.  Examples of such stores include chain grocery stores.
  • More than 75,000 square feet limit the number of customers in the store at one time to 100 and install protective shields between customers and checkout clerks as soon as practicable. Examples of such stores include Lowe’s, Wal-Mart, Target and Home Depot.
Retailers must enforce these limits and a six-foot separation between any customers waiting in lines. Any essential business which violates this Order will be subject to further on-site restrictions or closure until those violations are addressed. These new requirements adjust and mandate prior recommendations from the Governor regarding essential businesses and operations.
 
Preemption
 
The Order preempts any local ordinance or emergency order of the same subject matter that is less restrictive than or otherwise inconsistent with this Order.
 
Enforcement
 
This Order shall be enforced by law enforcement as necessary and violations are a class E crime subject to up to six months in jail and a $1000 fine. In addition, compliance with Section IV of this Order may also be enforced by government officials who regulate licenses, permits or any other authorization to operate a business or occupy a building. It is the Governor’s hope that compliance will be voluntary, and that formal enforcement will not be necessary. 
 
###
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Maine State Chamber of Commerce Statement on Federal COVID-19 Stimulus Package

3/27/2020

1 Comment

 
​For Immediate Release                                                                                       Media contact: Jen Webber
Friday, March 27, 2020                                                                                                      Cell: 207-939-0213
 
Maine State Chamber of Commerce Statement on Federal COVID-19 Stimulus Package
 
AUGUSTA, MAINE -- “The Maine State Chamber of Commerce greatly appreciates the work Maine’s federal delegation, U.S. Congress and the White House have done to craft the bipartisan, $2 trillion CARE Act stimulus package,” said Dana Connors, president of the Maine State Chamber of Commerce. “The COVID-19 pandemic is impacting businesses in every sector, of every size and economies at every level. The rescue package passed today is critical to first helping ensure Maine’s hospitals have the resources they need to care for our fellow Mainers. It also will help ensure that Maine businesses, employees, families, and our state and local economies endure the pandemic so Maine can get back to business as usual when this crisis passes.”
 
A brief video of Maine State Chamber President Dana Connors commenting on the Families First Coronavirus Response Act can be viewed at https://www.youtube.com/watch?v=awfuB8VvSms&feature=youtu.be.
 
Detailed COVID-19 information and resources for employers and employees are regularly updated at www.mainechamber.org/covid19.html. 
1 Comment

ME Dept. of Labor releases paid time off rules and schedules remote public hearing for April 15

3/26/2020

0 Comments

 
 March 26, 2020 4:14 PM

​    After months of gathering comments and input from around the state, the Maine Department of Labor (DOL) last evening released draft rules that will help determine the implementation and operation of Maine’s “Paid Time Off” (PTO) law, passed by the Legislature in 2019. The PTO law sprung out of LD 369, An Act Authorizing Earned Employee Leave, which was enacted after numerous negotiations between Gov. Mills’ administration, legislators, and the business community. Originally more than 10 pages long and focused on providing full- and part- time workers with paid sick leave, the bill was re-drafted by the governor to instead provide PTO to the same group of employees. The re-drafted bill was less than a page-and-a-half long, and while it laid out the basics of the leave parameters, it left much of the specifics to rulemaking, which would be conducted under the direction of the Maine DOL.

     The law requires any Maine business with more than 10 employees to provide their full- and part-time workers with up to 40 hours of paid time off. Workers accrue one hour of paid leave for every 40 hours worked to a max of 40 hours. They must be employed by the business for 120 days to be eligible to take the leave. The leave can be used for any reason, but employees are supposed to give reasonable notice of intent to take the time.

     As part of the rulemaking process, the department conducted a series of “listening” sessions around the state.  The department began this process in late October 2019 and held nearly a dozen meetings from as far north as Presque Isle, to Machias, Portland and Sanford, to name a few. While the comment sessions were for both employers and employees, they were predominantly attended by small businesses that were concerned with the mechanics of implementation, costs, and complexity.

     The DOL wound down its meetings in December 2019 and indicated it hoped to have draft rules finalized by mid-April, so yesterday’s publication of the draft rules is somewhat surprising. While the Maine State Chamber has not had a chance to delve into the draft in any depth, which continue to be surprisingly short on specifics given the sheer volume of comments received at each listening session. In fact, when compiled, the total number of questions and clarifications requested by small businesses generated nearly a dozen, single-spaced pages. The link to the draft rules can be found here.

     Again, a quick review seems to indicate that employers received some of what they were looking for in terms their concerns over implementation, but not in other areas. For example, the rules indicated that if you cash out any other kind of leave benefit upon separation, you must also do so with any unused PTO time. This runs contrary to discussions in the Labor and Housing committee last session and creates a significate financial liability for impacted employers, particularly small businesses. When considering this particular requirement, it’s important to remember that, while many employers provide paid benefits to their full-time employees, they don’t provide it to part-time workers. Some small businesses don’t currently provide any paid leave. Therefore, some businesses are going to incur “sticker shock” with this requirement.

     In the press statement released last evening, the department intends to conduct a virtual public hearing on the rules on April 15, 2020, from 5:00 to 7:00 p.m. Given the current need for social distancing as a result of the COVID-19 pandemic, this isn’t a surprising development. Individuals will have up to three minutes to deliver comments at that time. A link detailing how to participate in the virtual hearing can be found here.

     If businesses want to provide comment but not do so virtually, written comments can be submitted electronically through an online submission form. https://www.maine.gov/labor/proposedrulemaking/ Public comments may be sent by email to bls.mdol@maine.gov; please note that it is about Earned Paid Leave Rules in the subject line. Mailed correspondence can be sent to Maine Department of Labor at 54 State House Station, Augusta, Maine 04330-0054. All submissions require your full name as well as a place of residence. The public comment period remains open until 5:00 p.m. on Monday, April 27, 2020.

     The Maine State Chamber has closely followed the development of these rules since their enactment last year.  We attended the majority of the statewide listening sessions and have met with DOL staff since then. While we intend to have a detailed breakdown of both the good and the bad in the draft rules in the coming days, we are concerned with their brevity given all the questions and comments provided. Employers were looking for clarity and certainty – especially given the incredibly difficult times in which they currently find themselves operating, and certainly into the foreseeable future. That isn’t clear in this version. And whether the public comment period adds to that certainly or not is like many things today – unclear.
​
     The Maine State Chamber will be providing comment on the draft rules both in writing and virtually. For more information or questions, please contact Peter Gore by calling (207) 458-0490 or emailing pgore@mainechamber.org.
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​An update on the Federal Stimulus package…

3/26/2020

0 Comments

 
March 26, 2020 4:14 PM
     When Washington, D.C., passes a two-trillion-dollar relief package for the American people not even 24 hours ago, there is a lot of information contained in that and a lot to digest. For example, some of the high-level things included in it are:
 
The Paycheck Protection Program through the Small Business Administration: A nearly $350 billion program to provide eight weeks of cash-flow assistance to small businesses through 100 percent federally-guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers to remain employed and affected small businesses and the nation’s economy to quickly snap-back after the crisis.  
 
Unemployment Benefits: People who are unemployed would get an extra $600 per week for up to four months, on top of state unemployment benefits to make up for 100 percent of lost wages. The final agreement provides an extra month of unemployment benefits than what Senate Republicans had originally sought.
 
Loans to Industries – $500 billion: The Treasury Department would divvy up a $500-billion collection of loans to struggling industries, like airlines, and even cities and states.
 
Checks on the Way: All U.S. residents with adjusted gross income up to $75,000 ($150,000 for married couples) would get a $1,200 ($2,400 for couples) “rebate” payment. They are also eligible for an additional $500 per child. The payments would start phasing out for earners above those income thresholds and would not go to single filers earning more than $99,000; head-of-household filers with one child, more than $146,500; and, more than $198,000 for joint filers with no children.
 
Hospitals – $100 Billion: Health care providers would secure $100 billion in grants to help fight the coronavirus and make up for dollars they have lost by delaying elective surgeries and other procedures to focus on the outbreak. They would also get a 20 percent bump in Medicare payments for treating patients with the virus.
 
     There is a lot of information about the package coming out every minute. We found three overviews that we believe will be the most helpful to Maine businesses. Both U.S. Senator Susan Collins and U.S. Senator Angus King have put out statements that summarize what is in the package. We have included links below for easy access to this information. In addition, the U.S. Chamber of Commerce has put together a detailed 12-page summary of what is included in the package that even includes links to the actual legislation. Below is a link to that summary as well.
Senator Collins Press Release:
https://www.collins.senate.gov/newsroom/senator-collins-votes-advance-sweeping-covid-19-emergency-legislation-save-american-jobs
 
Senator King Press Release:
https://www.king.senate.gov/newsroom/press-releases/king-votes-to-advance-improved-bipartisan-senate-coronavirus-package
 
US Chamber of Commerce Summary:
http://d31hzlhk6di2h5.cloudfront.net/20200326/9a/f5/8d/69/bef7a66b3b14b702d9bc9395/Phase_3_Bipart_Summary_-_Revised.pdf

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Resources at your fingertips!

3/22/2020

0 Comments

 
As you’d expect, the Maine State Chamber of Commerce and Maine’s regional and local chambers of commerce are closely monitoring the COVID-19 situation. We recognize that information is plentiful and fast-changing, but not always accurate or well-organized. ​With that in mind, we have developed a web-based clearinghouse of information – MaineChamber.org/covid19.html – to help you find answers to critical questions relating to this pandemic's impact on Maine businesses. We are hopeful that this resource will assist you in taking care of yourself and your family, your employees, your business, and your community.
             
As always, we are here to answer your questions and to listen to your concerns – and to provide answers when we can. Please connect with us by emailing pgore@mainechamber.org or mellis@mainechamber.org with questions and concerns.
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