72 Lincoln County organizations each received COVID-19 loans of $150K to $5 million

Thu, 07/09/2020 - 7:30am

    WASHINGTON, D.C. — The U.S. Small Business Administration, in consultation with the Treasury Department, has released detailed information about Paycheck Protection Loan (PPP) recipients. 

    The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. This loan provides small businesses, including eligible self-employed individuals, with funds to cover payroll costs including benefits, utilities, mortgage interest and rent. The SBA will forgive loans if the criteria of the loan is met. 

    For recipients receiving loans of more than $150,000, the SBA has released the business names and the range of the loan they were approved for. These range categories account for nearly 75 percent of the total loan dollars approved nationwide, according to the SBA. 

    PPP loans are not made by SBA, but by lending institutions and then guaranteed by SBA.

    Accordingly, borrowers apply to lenders and self-certify they are eligible for PPP loan, according to the SBA. The self-certification includes a good faith certification that the borrower has economic need requiring the loan and that the borrower has applied the affiliation rules and is a small business. The lender then reviews the borrower’s application, and if all the paperwork is in order, approves the loan and submits it to SBA.

    The following is a rundown of the businesses falling within the Boothbay Register and Wiscasset Newspaper coverage area, encompassing Lincoln County, that received PPP loans greater than $150,000. 

    Seventy two area businesses received more than $150,000 from the federal government through the PPP program. 

    Damariscotta establishments received the most loans exceeding $150,000 with 11 businesses surpassing the $150,000 mark. Boothbay Harbor had nine businesses, while Wiscasset, Boothbay and Newcastle each had eight businesses. 

    The following employers receiving more than $150,000 in loans from the SBA were able to retain a combined 3,274 jobs, at a combined average of 45.47 jobs per organization.

    Coastal Maine Botanical Gardens, Inc.: $1 to $2 million
    Knickerbocker Group, Inc.: $350,000 to $1 million
    PGC2, LLC: $350,000 to $1 million
    Back Meadow Farm: $150,000 to $350,000
    Boothbay Region Ambulance Service, Inc.: $150,000 to $350,000
    E M Wood Construction, LLC: $150,000 to $350,000
    Mid Coast Hospitality Group, LLC: $150,000 to $350,000
    PGC8, LLC: $150,000 to $350,000

    Boothbay Harbor
    J. Edward Knight & Co.: $350,000 to $1 million
    Spurce Once, LLC: $350,000 to $1 million
    Blake’s Boatyard: $150,000 to $350,000
    Cicci, Inc.: $150,000 to $350,000
    Linekin Bay Holdings, LLC: $150,000 to $350,000
    RDR Enterprises, Inc.: $150,000 to $350,000
    Sherman’s Books & Stationery, Inc.: $150,000 to $350,000
    The Shipyard at Boothbay Harbor, LLC: $150,000 to $350,000
    YMCA - Boothbay Region: $150,000 to $350,000

    Muscongus Bay Aquaculture, Inc.: $150,000 to $350,000

    Colby and Gale, Inc: $350,000 to $1 million
    Hagar Enterprises, Inc.: $350,000 to $1 million
    Mid-Coast Energy Systems, Inc: $350,00 to $1 million
    Mobius, Inc.: $350,000 to $1 million
    Central Lincoln County YMCA: $150,000 to $350,000
    Coastal Kids Preschool: $150,000 to $350,000
    COS Care, Inc.: $150,000 to $350,000
    Damariscotta Hardware, Inc.: $150,000 to $350,000
    Doctors Davis and Albert, LLC: $150,000 to $350,000
    Maurer and Partners Corp.: $150,000 to $350,000
    Rising Tide, Inc.: $150,000 to $350,000

    East Boothbay
    Bigelow Laboratory for Ocean Sciences: $1 million to $2 million
    Washburn & Doughty Associates: $1 million to $2 million

    Compass Rose Events, Inc: $350,000 to $1 million
    Center for Teaching and Learning: $150,000 to $350,000

    N. C. Hunt, Inc: $350,000 to $1 million
    D/B/A Forest Peaslee/LLPCO/Fuel: $150,000 to $350,000
    J C Stone Inc: $150,000 to $350,000
    Staab Agency, Inc: $150,000 to $350,000

    Monhegan Island Inn, Inc: $150,000 to $350,000

    R H Reny Inc: $2 million to $5 million
    Lincoln Academy: $1 million to $2 million
    Mexicali Blues, Inc: $350,000 to $1 million
    The Lincoln Home: $350,000 to $1 million
    Eldercare Network of Lincoln County: $150,000 to $350,000
    Lincoln County Publishing Company: $150,000 to $350,000
    Oxbow Brewing Company, LLC: $150,000 to $350,000
    WRCM, Inc: $150,000 to $350,000

    Kieve-Wavus Education, Inc: $350,000 to $1 million
    Lincolnville Telephone Company: $350,000 0to $1 million

    South Bristol
    Gamage Shipyard LLC: $150,000 to $350,000

    Hodgdon Shipbuilding LLC: $350,000 to $1 million
    Newagen Seaside Inn, Inc: $150,000 to $350,000

    Mill Cove Lobster Pound Inc: $150,000 to $350,000

    Moody’s Restaurant, Inc: $350,000 to $1 million
    Atlantic Laboratories, Inc: $150,000 to $350,000
    Dow Furniture: $150,000 to $350,000
    FWC, Inc: $150,000 to $350,000
    Moose Crossing Garden Center, Inc: $150,000 to $350,000
    Tucker Chevrolet, Inc: $150,000 to $350,000
    Welm Inc: $150,000 to $350,000

    Specialty Products Company: $150,000 to $350,000

    Chewonki Foundation, Inc: $350,000 to $1 million
    Wiscasset Ford, Inc: $350,000 to $1 million
    Ames Supply: $150,000 to $1 million
    Break of Day Mental Health Group: $150,000 to $350,000
    Norm’s Used Cars, Inc: $150,000 to $350,000
    Sarah & Son’s Restaurant, Inc: $150,000 to $350,000
    West Bath Auto Parts Co.: $150,000 to $350,000
    Wiscasset Family Health: $150,000 to $350,000

    Reed & Reed Inc: $2 million to $5 million
    McElman Inc: $150,000 to $350,000
    Morse & Doak Builders, Inc: $150,000 to $350,000
    Sweettome, Inc: $150,000 to $350,000