Skip to content

Helping Small Businesses

Helping Small Businesses

The American Rescue Plan injected capital into state small business support, expanded the Paycheck Protection Program, anextended a number of critical tax benefits for small businesses. Senator King made sure the ARP included help for businesses who were impacted the most by COVID-19; securing a $28.6 billion fund to support restaurants struggling due to the pandemic.  

In Maine, the aid package delivered $56,234,176 to businesses through the State Small Business Credit Initiative. The funding will leverage additional support for small businesses, and is expected to help provide at least $503 million in capital to support Maine small businesses and entrepreneurs as the state continues its recovery from the impacts of the coronavirus pandemic.

The American Rescue Plan also helped Maine non-profits and service organizations with $1,186,463 to strengthen public service in the state and support relief efforts in communities disproportionately impacted by the pandemic.