BAR HARBOR BANK & TRUST
PPP Lender · 3,255 loans · $200.7M total · 14 states served
BAR HARBOR BANK & TRUST was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 3,255 PPP loans totaling $200.7M, representing approximately 0.03% of all loans nationwide.
BAR HARBOR BANK & TRUST served borrowers across 14 states. The largest concentration of activity was in Maine, where the lender originated 1,791 loans totaling $91.9M. Other states with significant activity included New Hampshire, Vermont, Massachusetts.
The average loan size for this lender was $61,667. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through BAR HARBOR BANK & TRUST were: SHEEHAN PHINNEY BASS & GREEN, P.A. (NH) — $2,796,200; COLBY-SAWYER COLLEGE (NH) — $2,643,500; PROCTOR ACADEMY (NH) — $2,475,900; and CASCO BAY STEEL STRUCTURES, INC. (ME) — $2,239,200.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Maine | 1,791 | $91.9M | 99.5% |
| New Hampshire | 906 | $79.3M | 99.4% |
| Vermont | 491 | $22.3M | 99.4% |
| Massachusetts | 29 | $1.3M | 100.0% |
| Florida | 17 | $3.1M | 100.0% |
| New York | 4 | $1.1M | 100.0% |
| Pennsylvania | 3 | $137,900 | 100.0% |
| North Carolina | 3 | $24,510 | 100.0% |
| Virginia | 2 | $171,720 | 100.0% |
| South Dakota | 2 | $41,633 | 100.0% |
| South Carolina | 2 | $12,192 | 100.0% |
| Connecticut | 2 | $466,585 | 100.0% |
| California | 2 | $813,300 | 100.0% |
| Minnesota | 1 | $8,900 | 100.0% |