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