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V I E W P O I N T S W W W. M A I N E B I Z . B I Z 3 A P R I L 5 , 2 0 2 1 A year ago, companies were just starting to make their revised sales projections for the year. When the federal government quickly stepped in with the Paycheck Protection Plan, the Small Business Administration and banks scrambled to figure out how to dispense the money. Businesses went into overdrive trying to figure out how to get loans. ere were a lot of sleepless nights. In the first round of lending alone, some 28,000 Maine businesses received $2.3 billion in loans. For our cover story, Renee Cordes takes us behind the scenes to show us what it was like as bankers and businesses tried to make sense out of the pandemic chaos and the PPP loans. Lending officers, many of whom were now working from home, rushed to help clients take advantage of the program before the money was snapped up. As one business owner told Renee, "e biggest concern we all had was that the money would run out that first weekend" of lending. See "Loan rangers," which starts on Page 16. Elsewhere, the pandemic nearly derailed a plan to convert the former Madison paper mill into a factory producing high-efficiency insulation. Financing for the effort, by Belfast-based GO Lab, nearly fell apart during the pandemic. But, as Maureen Milliken reports, that's when the leaders at GO Lab got creative. e story of how they got the financing back on track, "Financing bust turns into boom," starts on Page 22. A lesser-known SBA lending program, the 504 loans, is gaining traction among real estate inves- tors, who see it offering a lower price of entry. Still, the program remains relatively low profile. Real estate writer Laurie Schreiber offers insight into the program in the story "Good deal," which starts on Page 26. e list in this issue is largest Maine-based banks on Page 34. Peter Van Allen pvanallen@mainebiz.biz Featured @ Mainebiz.biz For a daily digest of Maine's top business news, sign up for the Mainebiz Daily Report at mainebiz.biz/enews Get Maine's business news daily at mainebiz.biz and on Twitter (@Mainebiz). Below is our most popular content for the two weeks from March 15–28. 1. Proposed 18-story tower could ease Portland's housing crunch, alter skyline 2. Slew of new flights creates a 'transformational moment' for Portland Jetport 3. Another accolade: 3 Maine towns named among 20 friendliest in US for travelers 4. LLBean reports 2020 revenue boom, issues double-digit employee bonus 5. How do you feel about the progress of COVID-19 vaccination in Maine so far? 6. Nearly 100 apartments planned for Biddeford industrial building 7. AC Dudley awarded $104.7M contract for new high school in Auburn 8. CLYNK names new CEO, pivots into tech 9. Auburn's development vision is quickly becoming reality 10. Presque Isle nonprofit plans to buy, operate historic Northeastland Hotel R E N D E R / C O U R T E S Y O F R E D F E R N P RO P E R T I E S, R YA N S E N AT O R E A R C H I T E C T U R E 1 bernsteinshur.com Be selective. BE SHUR. When you need a partner who knows the law and your industry. From the Editor The pandemic upended the economy, but companies adapted — with help Once the PPP was approved, the SBA, bankers and businesses leaped into action. Our cover story looks at what happened behind the scenes in Maine.

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