July 22, 2020 — Maine lobster businesses, both large and small, received emergency funding through the U.S. Small Business Administration’s Paycheck Protection Program to help them survive the economic crisis wrought by the coronavirus’ global spread this spring.
The lobstering sector was the top recipient in Maine of forgivable PPP loans of less than USD 150,000 (EUR 130,000), with around USD 14.9 million (EUR 12.9 million) offered to 1,358 Maine lobstermen, according to the Portland Press Herald. But the average loan to lobster fishermen was USD 10,900 (EUR 9,400) each, a total that won’t help many survive the season if low dock prices and weak export markets continue, according to Ben Martens, executive director of the Maine Coast Fishermen’s Association.