The loans might be forgiven if companies meet particular employment and spending thresholds.

The loans might be forgiven if companies meet particular employment and spending thresholds.

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

Bangor Savings Bank had been the program’s lender that is top Maine, processing about 15 per cent of loans above $150,000 therefore the 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. Continue reading “The loans might be forgiven if companies meet particular employment and spending thresholds.”