The Maine Jobs & Recovery Small Business Grant Program Informational Webinar
The Maine Department of Economic and Community Development is putting forward $5 million of the $20 million allocated to the program in total for grants targeted at supporting capital intensive businesses that still need immediate short-term help to sustain operations. More specifically, the $5 million will be put towards expense-based grant relief to help businesses and non-profits with significant expenses related to loans and interest they incurred in order to sustain operations. The loans must be in deferral as a direct result of the pandemic and the business must demonstrate at least 20 percent lost revenue in the year 2021.
Applications for the program will open November 1, 2021. The remaining $15 million will then be made available in April 2022 in order for businesses and non-profits to easily utilize tax returns to demonstrate the financial impact of the pandemic on their businesses and, therefore, qualify for funding based on need. This approach – stabilizing businesses most in need now followed by larger grants later on – was developed by DECD in conjunction with the business community.
To read the Governor's full press release, go here.
More information and the application portal will be posted on DECD's website soon.
Commissioner Heather Johnson will be holding an informational webinar on the grant program on Friday, October 29th. Please REGISTER HERE.
Date and Time
Friday Oct 29, 2021
10:30 AM - 12:30 PM EDT
Fees/Admission
Free
Contact Information
Alison P. Sucy, Chief Operating Officer & Director of Government Affairs
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