Maine Philanthropy Center

Building Connections for Maine Grantmakers

Thrive Maine: Pandemic Recovery Business Loan Program

Thursday, August 11, 2022

Administered by FAME, Thrive Maine is a forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts. The program is funded by the American Rescue Plan Act (ARPA), an economic stimulus bill that was passed by the 117th United States Congress, with $58 million allocated to support Maine small businesses by the Legislature and Governor Mills under LD 1733 through the Maine Jobs and Recovery Plan.

About Thrive Maine
  • Must have significant operations in Maine (headquartered in Maine or have a minimum of 50% of employees and contract employees based in Maine).
  • Must demonstrate COVID-related negative economic impact in one of the following:
  • Loss of net revenue
    • Complete federal income tax returns (FITR) or personal income tax returns (PITR) for 2019-2021, whichever shows your business income.
    • Year-over-year actual comparison through income statements or federal taxes; no projections or hypotheticals may be used as a comparison point.
  • Expenses incurred
    • 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).
  • Broader economic impacts
    • Provide proof of increased costs due to the supply chain (e.g., the cost of product or service went from “X” to “Y” and caused “Z” amount increase in costs).
  • Businesses must be in good standing with the State of Maine.
  • Payroll, state, and federal taxes must be current.
  • Must have a Unique Entity Identifier (UEI)

Losses for which the business previously received federal and/or state pandemic relief, such as Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), Maine Technology Institute PRIME Grant, Maine Small Business Grant funding, and others, cannot be re-submitted.

Loan terms
  • Total amount of funds to be distributed from minimum of $10,000 to maximum of $2 million.
  • Loan forgiven at a rate of 25% per year over a four-year period.*
  • Forgivable loans will be administered on a first-come, first-served basis.

*Forgivable loans are considered taxable income at the rate they are forgiven. See IRS tax code and consult your accountant for more information.

How to apply

A Unique Entity Identifier (UEI) is required to apply. Instructions on how to apply for a UEI or renew your entity can be found on Please note, it can take up to 3 to 6 weeks for this process to be completed.

Applications must be complete in order to be considered. Applications must include year-to-date profit and loss and balance sheet and tax returns. Any incomplete applications submitted will not be reviewed until all complete applications have been reviewed.

Applications are considered on a first-come, first-served basis. Once all money is allocated, no more applications will be considered.

To prepare to apply, download the application checklist.

For more information, visit the grant page via FAME.