Blog Archive: April 1, 2020 - April 30, 2020

Governor Janet Mills today presented her Administration’s plan to gradually and safely restart Maine’s economy. The plan, which comes as the State appears to be successfully flattening the curve, establishes four gradual stages of reopening, the first of which begins  May 1st. The stages focus not on essential v. non-essential designations like those used to originally limit business operations and activities, but on the ability of a business to operate or an activity to occur in a manner that protects public health and safety. As the Administration gradually eases restrictions on some businesses and activities, it also implements protective protocols, along with broader additional health and safety measures, to protect Maine people.   

“The Brunswick Development Corporation’s Pandemic Emergency Loan fund is recapitalized to $100,000 and BDC is accepting applications.  The PEL fund was replenished through a $25,000 private donation, a $25,000 match by the Town of Brunswick from Tax Increment Financing (TIF) revenues, and a BDC allocation of $50,000.  

With the emergence of COVID-19 some of the federal and state rules regarding who qualifies for Meals on Wheels have been temporarily changed, and now, anyone over the age of 60 who is practicing social distancing can receive meals throughout Spectrum Generations’ service territory. Disabled adults living with someone receiving meals are also eligible temporarily.  

United Way of Midcoast Maine sent out this note to volunteers and partners updating everyone on the status of some of their programs.  This update features: The Covid-19 Urgent Needs Fund, 211 Maine and logistical problems facing the Diaper Project.

TD Bank accepting PPP applications online

At this time, Midcoast Federal Credit Union is not an SBA lender and can only refer interested parties to the SBA for guidance and programs.  However, we do have two consumer loan programs that can...

BSI Customers are encouraged to log onto https://home.treasury.gov/cares website to fill out the application. 

They can forward their application along with supporting documentation to...

Guidance on Mechanics Savings protocol for the Paycheck Protection Program

On Wednesday, April 1, the new Families First Coronavirus Response Act went into effect.  This federal Act requires some employers in Maine to provide their employees with paid sick leave and expanded medical leave for reasons related to COVID-19. A link to the FFCRA language can be found here: https://www.congress.gov/116/plaws/publ127/PLAW-116publ127.pdf .

The new federal requirements apply to covered employers as defined in the Act, which includes most businesses with fewer than 500 employees and almost all public employers.  The Act allows for these businesses to be reimbursed for expenses they incur to provide required paid leave through a payroll tax credit. Certain businesses with fewer than 50 employees can seek an exemption. Businesses must seek this exemption at the federal level.