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Thrive Maine: Pandemic Recovery Business Loan Program


Administered by the Finance Authority of Maine (FAME), Thrive Maine is a forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts. Funds may be used to reimburse loss of revenue, expenses incurred, or increased capital project cost. The program is funded by the American Rescue Plan Act (ARPA), an economic stimulus package that is intended to speed up the United States recovery from the economic and health effects of the COVID-19 pandemic. A portion of the funding was allocated to the State of Maine with $58 million allocated through the Maine Jobs and Recovery Plan to Thrive Maine to support small businesses and nonprofits.