Additional business assistance funds available for low to moderate income applicants

CARIBOU — The Maine Department of Economic & Community Development (DECD) in partnership with the Maine Small Business Development Centers (SBDC) will again provide grants of up to $5,000 for businesses with five or fewer employees, with an owner whose income is in the low to moderate range as defined by the Department of Housing and Urban Development (HUD).

    This is the third round of Micro-Enterprise Grants being distributed through Northern Maine Development Commission (NMDC) to eligible business owners in Aroostook and Washington counties.

    “These funds come during a slow-down of business grants, and they are well-needed in our region,” said NMDC SBDC Director Brandon McDonald. “We are excited to again partner in this program and look forward to continuing our strong relationship with DECD in continuing to assist with the CDBG program in northern and eastern Maine.”

    NMDC is accepting applications beginning on January 7 and anticipates awarding the funds beginning in early February and will continue until funds are exhausted.

    Businesses may use the grant money for working capital which includes fixed debts, payroll, accounts payable, and other bills that cannot be paid because of COVID-19. Funds are available on a first-come, first-serve basis. Business owners must meet with a Maine SBDC business advisor to determine eligibility and apply.

    Eligibility criteria include:

    • Must be a Maine business

    • Must demonstrate a revenue loss as a direct consequence of COVID-19. Funds cannot duplicate          those received from other federal, state or local programs.

    • Must have five or fewer employees including the owner(s)

    • Must have a DUNS Number, which can be obtained here http://fedgov.dnb.com/webform

    • Owner’s household income must be low/moderate as defined by HUD as verified by 2019 tax return.

    For more information or to apply, visit https://www.mainesbdc.org/cdbg/ – you may also contact McDonald at (207) 493-5770 or by email at bmcdonald@nmdc.org.

    SBDC will provide appropriate auxiliary aids to persons with disabilities and translations to persons with Limited-English Proficiency where necessary to afford such persons an equal opportunity to apply. If you need such aid, please contact mainesbdc@maine.edu or 1-800-679-7232.