Maine Economic Recovery Grant Deadline Approaching Tomorrow!

Maine District Office  - September 8, 2020

u s small business administration

Maine Economic Recovery Grants Deadline is September 9th

The State of Maine plans to use CARES Act relief funding to help our economy recover from the impacts of the global pandemic by supporting Maine-based businesses and non-profit organizations through an Economic Recovery Grant Program. The funding originates from the federal Coronavirus Relief Fund and will be awarded in the form of grants to directly alleviate the disruption of operations suffered by Maine’s small businesses and non-profits as a result of the COVID-19 pandemic. The Maine Department of Economic & Community Development has been working closely with affected Maine organizations since the beginning of this crisis and has gathered feedback from all sectors on the current challenges.

Many Maine businesses and non-profits have not been able to access existing sources of relief funding and so have “fallen through the cracks” and need help in order to remain viable. Some of these businesses are from sectors hardest hit from the global pandemic, including those who remained closed for longer periods of time, businesses that have not yet re-opened, businesses that rely on seasonal cash flows, and businesses with decreased revenues due to declines in consumer spending or declining global markets. This program is not meant to be exclusive and acknowledges that nearly every industry sector in Maine has experienced a decrease in revenue.

The money available for these grants cannot wholly replace or repair the economic damage this pandemic has caused. Our narrow mission is to ensure that each dollar has at least a small, direct impact on supporting Maine businesses, Maine non-profit organizations, and Maine’s economy.

For more information, or to apply, click HERE

SBA resource partners provide business consulting, mentoring and training services.

Micro-Enterprise Grants Available for Maine Based Businesses to Recover  

The Maine Department of Economic & Community Development (DECD) in partnership with the Maine Small Business Development Centers (SBDC) will 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).

How to Apply?

Funds are available on a first-come, first-serve basis. Business owners must meet with a Maine SBDC business advisor to determine eligibility and submit an application. Connect with a business advisor here.

How can the grant be used? 

Businesses may use the grant money for working capital which includes fixed debts, payroll, accounts payable, and other bills that can’t be paid due to the disaster’s impact. 

How much can I apply for?

Businesses can apply for grants up to $5,000. You must demonstrate revenue loss as a direct consequence of COVID-19. Funds cannot duplicate those received from other federal, state, or local programs (including other CDBG programs).