The loans could be forgiven if companies meet particular investing and work thresholds.

Unforgiven loan balances can be paid back over as much as five years at one percent interest.

Bangor Savings Bank had been the program’s top lender in Maine, processing about 15 per cent of loans above $150,000 while the exact exact same percentage of smaller loans. The bank shifted resources and assigned 200 staff members to deliver the maximum number of loans to current and new clients as the program geared up in late March.

I think it would have been more difficult to guaranteedinstallmentloans promo code bring in more people and cross-train and literally within a couple days be up and running,” said Kim Donnelly, director of business banking at Gorham Savings Bank in Portland“If we weren’t a smaller bank. Shawn Patrick Ouellette/Staff Photographer

“We made a decision really in early stages that participating early and fully had been the thing that is right do for the small enterprises,” said Kate Rush, manager of community relations at Bangor Savings. “Doing such a thing we could to simply help regional businesses be healthy and thrive is finally beneficial to the banking community. Leer más