Maine CDBG Microenterprise Assistance Program
Maine's CDBG Microenterprise Assistance Program provides local grants or loans to help for-profit microenterprises with working capital and improvements.
About this program
The Maine CDBG Microenterprise Assistance Program provides grant funds to communities for innovative solutions to problems faced by microenterprise businesses. Communities may provide assistance to for-profit businesses as grants or loans for working capital, interior renovations, exterior improvements such as signage, painting, siding, awnings, lighting, display windows, and approved planning activities. The maximum state grant to a community is $150,000 per year, and assistance to an individual business is capped at $50,000, with microenterprise assistance grants structured as forgivable loans.
Eligibility
Maine communities applying on behalf of eligible for-profit microenterprise businesses needing working capital, renovations, exterior improvements, or related planning support.
Requirements
- Applicant must be an eligible Maine community applying through the CDBG program.
- Assisted business must be a for-profit microenterprise business.
- Funds must be used for eligible working capital, interior renovation, exterior improvement, or planning activities.