Maine Small Business Start-up Grants – Providing financial support to new businesses, expansions and renovations throughout the region. Funding for the agency’s loan, grant, and technical assistance programs is secured through a combination of state and federal loan and grant programs and strategic partnerships. offers direct loan programs through our Remote Loan Funds (RLF). RLF lends money to those in need and uses principal and interest payments to fund new loans.
In addition to our direct loan programs, we can also help businesses access other local and state funding sources.
Maine Small Business Start-up Grants
The CARES Act was passed in 2020 to reduce the economic impact of the COVID-19 pandemic. As a result of this move, it received a $670,000 award through the US Economic Development Administration (US EDA) to promote lending through the new RLF Fund. This fund has very favorable terms, which are not typical of our standard RLF loans.
Chip Startups Rival Ai Processors From Intel, Amd, Nvidia
These loans are intended to help startups, as well as small and medium-sized businesses, with growth, expansion, investment in equipment and resources or opportunities to pivot during the COVID-19 pandemic. If your business is in Kennebec, Somerset, or West Waldo County, we can help you navigate this program and identify other important resources.
This money is intended to improve the stability or flexibility of your business after the COVID-19 pandemic. Examples include, but are not limited to:
If you need to create or update your business plan, take a look at our Business Plan Template.
If you need more information or assistance with any aspect of the application, please contact Community Sustainability Coordinators Robyn Stanicki and William Harper at (207) 453-4258.
Maine Sbdc’s Recovery & Relaunch Business Resource Center
Eligible uses include: real estate construction, real estate development, furniture and fixtures, equipment, inventory, supplies, working capital and/or debt refinancing.
If you need more information or assistance with any aspect of the application, please contact the offices at (207) 453-4258.
Scheduled hours ensure cleaners have adequate time to clean our offices, including all high traffic areas, due to COVID-19. . This funding is available to businesses that were open before the start of the COVID-19 pandemic AND to new businesses that were in business on January 1, 2021.
The full grant description is available on the DECD Maine Economic Recovery Grants page and the grant application is here.
Covid 19 Funding Relief Tracker
We recommend that you don’t wait until the last minute to apply! This provides a buffer for technical issues or if the state requests additional information about your application, as companies must upload PDF documents or screenshots to support cost increases, buyouts, or cancellation interest.
Check out our recent webinar where Maine SBDC business advisors provided information on the Maine Small Business Employment and Recovery Grant. They answered questions and shed light on the show in this short 13-minute video! look here
Eligible expenses are based on 4 categories. You must show new costs or increases in one or more categories.
How does DECD calculate a 20% revenue loss? The income of the year in which the cost occurred is compared with the previous year.
Umaine Once Again Featured In Fiske Guide To Colleges
What if my business is not open in 2019? How do I compare losses? For businesses that opened between 2019 and January 1, 2021, losses will be assessed on a case-by-case basis and DECD will request additional documentation.
What is the deadline for eligible charges? Spending must take place between March 30, 2020 and June 30, 2021.
What is the maximum reward level? $50,000. This can vary depending on the need and size of the claims.
Applicable charges relate to loan arrears. Should the loan be canceled now or at the time of granting? Even if you’re not out of default and current on your loan payments, interest payments were a big expense when default was postponed, especially as a result of COVID-19. You can claim these interest payments as an eligible expense.
Business Development And Support
If you have any additional questions about this program or are looking for more clarity on specific areas, please contact Request a Consultant here!
Marketing your business has never been easier. Google advertising, Facebook advertising, search engine optimization and more. yes please
Let’s work together to help small businesses sell online. Learn more about our partnership options for businesses of any size and industry.
Starting a business is the dream of many people around the world who are looking to express their creativity and try their hand at being entrepreneurs. No matter what kind of business you’re interested in or where you are, this is a great day and age to pursue those dreams.
United Way Of Kennebec Valley
That goes twice for opening a business in Maine. They have the 8th lowest sales rate and the 10th lowest startup survival rate. In addition, there are also 15 access to financing. So what are you waiting for, Maine residents? Get to work!
To open a business, you need an idea of what you want to offer your customers. You probably already have something in mind, but if not, that’s okay! There are so many great opportunities and ideas to go with your business. In Maine, there are a few
When you plan to open a business, there are many steps you must take before opening those doors. It doesn’t matter; they are not ugly buildings. Here are some important things that should not be overlooked:
Choosing a name can be an exciting step in starting your business. This is how customers will remember you and be known. You want a name that accurately represents your vision and values.
Maine Seaweed Company Bids For More Growth, Signs Deal With Business Backed By Celebrity Chef
Before opening your doors, market research can be a beneficial step. This allows you to learn more about the customers you want and their needs and wants from a business like yours. You get a chance to see what your competitors are doing and see how you can develop something different for your store.
An important part of starting a business is choosing a business structure. This will help with credit and against potential liabilities. Depending on your goals for the business and what works best for you, you can choose a structure such as an LLC, sole proprietorship, partnership, partnership, or
After choosing a business structure for your store, register iMaine step by step under that structure. You can request information such as your business name, employer identification number, training documents and who your registered agent is who handles your taxes. Depending on the structure you choose, the state of Maine may require different documents or certifications.
Store, you’ll want to pay close attention to where you open. You want a theme in the place with high foot traffic, where you rely on your customers often and good word of mouth. In Maine, you can start with cities like Bangor and Portland and go from there. Fortunately, if you’re planning to open an online business, you have all of Maine to explore.
Small Business Assistance
To help with the financial side of business ownership, you’ll want to set up a store-only bank account. This will help keep your personal assets separate and make it easier to track transactions.
You can also get a business-only credit card. Not only will this help track your transactions, but it will help get a credit score for your store. If you want to make your finances even easier, you can look into a bank account or software that will help you keep your finances organized and make tax season less stressful for you.
As your business grows, you may be more exposed to risks and liabilities in all areas. To help against it, you must have insurance. Workers’ compensation insurance, general liability insurance, and professional liability insurance are all options to look at. However, in the state of Maine, if your business has one or more employees, you must have some form of workers’ compensation insurance.
Depending on the type of business you run, you most likely have certain permits or licenses that you need to obtain. To make sure you have all the necessary documents, you need to check federal, state and municipal regulations.
Maine Startups Insider
When your business gets to the point of hiring employees, you can take another step less. Show growth and excellence in your store. Recruiting employees allows you to target people who share the same visions and values that your company offers. While it can be fun, you want to make sure you do it legally. This may simply mean making sure you are registered with the IRS Employer Taxes and reporting your new employers to Maine.
As you build your business, you’ll want to think about a proper branding strategy. This is the experience your customers will have while shopping with you, how you present your store and how you want to represent your values.
Aside from branding, logo creation is one of the most important creative decisions your store can make. This is a more understated version of branding that adds a lot of value to labels, bags, your website and business cards. You’ll want to create an image or set of words that truly represent your business.
With our increasingly virtual world, your online business can make a big difference. This could easily save a website. A website is where customers can find information, photos, their quotes and even products if you also want to display or sell from the website. Either online or
Why Small Businesses Fail: Top 8 Reasons For Startup Failure
Store, social media can be key for customers to find you from everywhere. Platforms like Facebook, Instagram and Tik Tok are goldmines for introducing your business by showcasing your brand and products.
These companies exist to make your website and connect your products to other sales platforms to leave your online store.
Help get your business and products out there on platforms like Facebook and Instagram. When your products are located on other sites, it can be important to keep track of your sales and your account. do that too All in one dashboard, you can see your sales numbers and where those sales are coming from. Opening an online store doesn’t have to be as difficult as you might think. This is to make the process easier and more beneficial for you and your business.