State Sen. Rick Bennett of Oxford calls for limits on how much lenders can charge for short-term loans to hard-pressed Mainers.
banking
Posted inBusiness, Kennebec Journal, Local & State, Morning Sentinel
Kennebec Savings Bank, Kennebec Federal Savings merger imminent
The banks will become Kennebec Savings Bank when the merger is completed at 5:01 p.m. on March 5.
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Posted inBusiness, Local & State
State income tax issue looms over pandemic relief loan recipients
Unless the Legislature acts, Maine businesses and nonprofits could have a higher state tax burden than what federal tax rules require.
Posted inBusiness, Local & State
Bangor, Damariscotta banks set to merge this month
Federal regulators have approved the merger of a pair of Maine-based banks that will give them more than 60 branch locations in Maine and New Hampshire.
Posted inBusiness, Nation & World
JPMorgan commits $30 billion to fixing banking industry’s systemic racism
The New York bank says it will extend billions in loans to Black and Latino homebuyers and small business owners.
Posted inBusiness, Local & State
Midcoast Federal Credit Union to merge with Maine State Credit Union
The combined entity would operate as Maine State Credit Union, with over $725 million in assets and 46,000 members across eight locations.
Posted inBusiness, Local & State
‘Viral marketing’ takes on new definition as pandemic alters ad campaigns
The pandemic forced businesses throughout Maine to consider the way they had been marketing themselves, and whether they needed to adapt to a changed world.
Posted inBusiness, Local & State, News
Community banks credited for strong emergency business loan outcome in Maine
An abundance of smaller banks helped make the federal Paycheck Protection Program more effective than in most other states.
Posted inBusiness, Local & State, News
Virus contributes to outbreak of consumer debt in Maine
With jobs lost and bills piling up, many Mainers face mounting household debt triggered by the COVID-19 pandemic.
Posted inBusiness, Local & State, News
Nonprofit lenders in Maine attempt to fill gaps between federal bailout programs
Three community development organizations have SBA-backed loans available for business borrowers.