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The Small Business Administration is reopening Paycheck Protection Program loans and Timberline Bank is ready to help.

The Small Business Administration is reopening Paycheck Protection Program loans and Timberline Bank is ready to help. Timberline, at 649 Market St., announced in a Friday news release that it is ready to process new PPP borrows and some existing borrowers beginning Monday. With the program restarting, those who did not receive the loan in 2020 will be eligible for a PPP First Draw loan early this week, the release said. By the midpoint of the week, businesses who did receive a PPP loan can apply for a Second Draw loan. “PPP First Draw has more flexibility for seasonal employees and busi...

LAKELAND — Hundreds of billions of federal dollars are set to reinvigorate small businesses in the near future, a measure business owners say they sorely need. In December, President Donald Trump signed a $900 billion coronavirus relief bill that included the allocation of $284 billion for the Paycheck Protection Program, overseen by the U.S. Small Business Association. The program kept some local business owners from shutting their doors forever during economic lockdowns in the spring and summer of 2020. While the money might not be a long-term solution if COVID-19 continues to tank foo...

WASHINGTON, D.C. — The U.S. Small Business Administration, in consultation with the Treasury Department, announced Friday the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers, according to a news release from the Maine Department of Marine Resources. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13, the release noted. The PPP will open to all participating lenders shortly t...