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Community Loan Fund Mgmt.
Direct Loan Funds
Indirect Loan Programs
CDBG Loan Program
Community Development Block Grant Loan Program
CDBG funding is made possible through a grant to the State of Maine. The State then allocates these dollars to various funding sources to be used within the State. A great deal of this funding is administered by the Office of Community Development (OCD) at the Department of Economic and Community Development.
For our purposes we would like to break down these funds at OCD into two major categories. Those that assist the community and housing projects within the community and those that assist businesses within the community (existing or new).
The Business Finance Department at NMDC works with businesses in determining the best possible financing package for the businesses needs. We also work with communities that would like to assist an existing business or new business development in the community. This is accomplished by assisting the community in applying for funding to help such businesses by obtaining a grant from the State OCD for the specific purpose of making a loan or grant to a business.
There are many requirements with the program as well as a specific time table to obtain these funds. We would encourage you to visit the Office of Community Development to review the programs most commonly used. Refer to the Development Fund Loan Program under the Economic Development Program section or the Business Assistance Grant also located in the same link.
After reading these guidelines please give us a call to explain any questions you may have or to refine the requirements and determine how they may apply to your needs.
For information on CDBG at NMDC, contact our Certified CDBG Administrators.
For Economic Development Program loans and grants to assist Businesses, contact the
Business Finance Department at 207-498-8736 or
Duane P. Walton firstname.lastname@example.org
For Community Development Projects to benefit the community, contact Joella Theriault at 207-834-5298 or email@example.com
For more information on the CDBG Program including the program statement and all program applications please visit the CDBG program website at www.meocd.org.