Applications must include year-to-date profit and loss and balance sheet and tax returns. The first application period is now open and the second application period will take place in 2023.Īpplications must be complete in order to be considered. There are two forgivable loan application periods. Watch this video from SAM.gov on the process for requesting a UEI. Clicking “Get Started” is a shorter process than “Entity Registration,” if this option works for your business. If you do not provide your UEI number by this time, the funds set aside for your business will be allocated back into the Thrive Maine funds for the second round of applications in 2023. The UEI must be provided by December 3, 2022. No funds will be sent until the UEI is provided. If your application is approved, it will be in a “hold” status until the UEI is provided, and the approved loan amount will be set aside for your business. If your business has applied for but has not yet received the UEI at the time you apply for your forgivable loan, you may apply but must provide proof that you have applied for the UEI. In order to receive a forgivable loan from Thrive Maine, a business must have a Unique Entity Identifier (UEI). For some businesses, the process of obtaining a UEI can take weeks. Unique Entity Identifier (UEI) Required to Receive a Forgivable Loan Losses for which the business previously received federal and/or state pandemic relief, such as Paycheck Protection Program (PPP), Maine Technology Institute PRIME Grant, Maine Small Business Grant funding, and others, cannot be re-submitted. Must have a Unique Entity Identifier (UEI).Payroll, state, and federal taxes must be current.Businesses must be in good standing with the State of Maine.Quotes or receipts are necessary for both the prior cost and current cost to prove an increase.Provide proof of increased capital project costs due to the pandemic (e.g., the cost of the project went from “X” to “Y” and caused “Z” amount increase in cost).Provide receipts for the purchase and installation of materials, systems, and/or software to ensure patron and employee safety (e.g., HVAC systems, plastic partitions, and temperature scanners).You may apply for EBITDA losses of 2020, 2021, or 20.Full year-over-year actual comparison through income statements or federal taxes no projections or hypotheticals may be used as a comparison point.Complete federal income tax returns (FITR) or personal income tax returns (PITR) for 2019-2021, whichever shows your business income.pre-pandemic (2019), less previously received other federal pandemic relief funding. Calculated as loss of full year EBITDA vs.Loss of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).Must demonstrate COVID-related negative economic impact in one of the following:.Must have significant operations in Maine (a minimum of 50% of employees and contract employees based in Maine).Must be a Maine business or nonprofit with fewer than 500 employees.Use FAME’s Resources & Tools to help you afford higher education. Time to repay your student loans? Here are some things you need to know. Learn about the different types of student loan programs as well as specific loan programs for students pursuing a degree in the health professions, education, or child care. Learn more about Maine grants and tuition waiver programs here. Unlike loans, grants are sources of financial aid that generally don’t have to be repaid. Start your search for Maine scholarships here. Scholarships provide free money to pay for college. If you’re a Maine student who earned (or will earn) a high school diploma or equivalent in 2020, 2021, 2022, or 2023, you can attend Maine community college tuition free, but you’ll need to file the FAFSA. Learn more about applying for financial aid and filing the FAFSA. There’s money available to help pay for college.
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