Tag Archives: U.S. Small Business Administration

Maine lobstermen prepare for uncertain summer season, hoping for further federal relief

More than 1,300 lobstermen in Maine – about 1 in 3 – received forgivable loans through the Paycheck Protection Program (PPP), with the majority amounting to roughly $10,900.,, New data from the U.S. Small Business Administration shows that altogether, Maine’s lobster industry received roughly $24 million in PPP funding, the most given to any business concern in the state; dine-in restaurants, beauty salons, real estate, and home building received the next highest amounts. While the bulk of the fishing sector money – nearly $15 million – went to fishermen, some dealers, retailers and processors received loans between $150,000 and $1 million. >click to read< 17:49

Maine: 1 in 3 Lobstermen got small Paycheck Protection Program loans

About $14.9 million in forgivable Paycheck Protection Program, or PPP, loans of less than $150,000 have been handed out to 1,358 Maine lobstermen, according to an analysis of newly released U.S. Small Business Administration data. That puts lobstermen ahead of full-service restaurants, real estate offices, beauty salons and home builders, which rounded out the top five Maine industries receiving small PPP loans. Maine’s $1.4 billion-a-year lobster industry – including those who buy, sell and process lobster as well as catch it – have received 1,495 forgivable PPP loans worth at least $24.2 million, so far. Fishermen got the lion’s share of the industry’s total PPP money, but only because they outnumber dealers, retailers and processors. Some dealers got loans of up to $1 million. >click to read< 07:15

SBA Offers Economic Injury Disaster Loans to Small Businesses In Florida Affected by Hurricane Irma

Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in the declared counties of Florida that have suffered financial losses as the result of Hurricane Irma, should consider applying for an Economic Injury Disaster Loan from the U.S. Small Business Administration.,,,  Examples of eligible industries include but are not limited to the following: bait and tackle shops, charter boats, commercial fisherman, crabbers, fishing guides, hotels, and marinas, owners of rental property, restaurants, retailers, souvenir shops, travel agencies, and wholesalers. click here to read the press release 11:39

Disaster loans opened to California’s Dungeness crab fishermen, businesses

crab loans sbaThe U.S. Small Business Administration announced that low-interest disaster loans are now available to commercial anglers and other businesses affected by the continued closure, which stems from a potentially deadly neurotoxin affecting the fishery. The loans, which max out at $2 million, with 4 percent interest, are the first significant help extended to crabbers, seafood processors and others who have been economically devastated by the foregone season. California crab landings are usually worth about $60 million a year or more.,, It does not appear that deckhands, who often work as contracted employees, would qualify for the business loans. Those workers comprise a group that is among the most desperate amid the crab closure. Read the rest here 06:54

Gov. Scott Requests Economic Injury Declaration for Impacted Commercial Oyster Fishery

TALLAHASSEE –  Today, Governor Rick  Scott requested from the U.S. Small Business Administration an Economic Injury  Declaration for Franklin County as a result of impacts to the region’s  commercial oyster fishery. Congressman Steve  Southerland said, “I appreciate Governor Scott’s tireless efforts to strengthen  Franklin County’s economy, specifically its once-thriving oyster industry. [email protected]  19:59

Mass. delegation calling SBA loans aid for the New England fishing industry.

The entire Massachusetts Congressional delegation has asked the U.S. Small Business Administration to provide financial assistance to New England fishermen who have been affected by reductions in annual catch limits and groundfish stocks. The Commerce Department last fall issued a declaration of disaster for the Northeast groundfish fishery, saying that it could require $100 million in federal aid. [email protected]  08:27

Lawmakers join push for SBA fish aid – Gloucester Daily Times 13:50

NSC grateful to Gov. Patrick for certifying severe economic injury to Mass groundfish industry

966382_576848379002335_599159690_oThe Northeast Seafood Coalition (NSC) expresses sincere appreciation to Massachusetts Governor Deval Patrick and the Governor’s office for their leadership in certifying to the U.S. Small Business Administration (SBA) that the Massachusetts groundfish industry has suffered substantial economic injury as a result of a fishery resource failure. [email protected]  12:15