A selection of grants and loans being made available to small business owners, non-profits, employees, and the organizations that support them:
GRANTS
- Through the Maine Tourism Relief Fund, we will provide grants to tourism-related small business owners with less than 50 employees and their employees who have been adversely impacted by COVID-19, financially, whether through a decrease in wages or loss of employment. https://www.mainetourism.com/maine-tourism-relief-fund/application-faqs/
LOANS
- COVID-19 Relief Interim SBA Finance Loan Program provides FAME Direct Loans of up to $100,000 with special terms available to eligible borrowers who provide proof of commitment for SBA financing. The FAME loan would be originated for use to the business owner until the SBA loan is funded. The SBA loan would then pay-off the FAME loan. https://www.famemaine.com/business/programs/covid-19-relief-loan-programs/covid-19-relief-interim-sba-finance-loan-program/
- COVID-19 Relief Business Direct Loan Program provides FAME Direct Loans of up to $50,000 with special terms available to Maine-based businesses experiencing interruption or hardship due to COVID-19. https://www.famemaine.com/important-notices/covid-19-relief-business-direct-loan-program-nears-funding-limit/
- CEI is offering fast track microloans up to $25K for existing and start-up businesses. Decisions will typically be made within three business days. The initial requirement is a 2-page application and impact data survey from all owners with a 20% or greater share of the business. https://www.ceimaine.org/financing/business-financing/wicked-fast-microloans/
- The COVID-19 Relief Consumer Loan Program provides no-to-low-interest consumer loans through a loan guarantee program involving Maine’s banks, credit unions, and FAME. Interested borrowers should contact their local bank or credit union to see if the lender is offering this program and to apply. The program offers loans of up to $5,000 (minus any unemployment benefits received by the borrower). A borrower may apply for up to three loans, one per 30-day period.
- The Maine Department of Economic and Community Development has compiled a resource guide of federal and state assistance for businesses impacted by COVID-19. https://www.famemaine.com/wp-content/uploads/2020/03/DECD_COVID-19-Resource-Guide-for-ME-Businesses.pdf
For more information, please contact director@ourtownbelfast.org