Businesses near Portland eligible for federal funds
Businesses in 12 Maine communities near Portland are now eligible for several loan and grant programs from the U.S. Department of Agriculture Rural Development.
The USDA Rural Development's state office announced this week that businesses in the following communities are now eligible in their entirety: Freeport, Yarmouth, Cumberland, Windham, Gorham, Saco, Old Orchard Beach and Biddeford. In addition, certain rural areas of Falmouth, Westbrook, Scarborough and Cape Elizabeth are now eligible as well. These areas were formerly ineligible due to their proximity to Portland, but a new amendment to guidelines changed that.
“This excellent amendment to our business programs’ eligible areas will enable businesses in several Maine communities near Portland to apply for valuable funding that can help them save and create jobs and promote economic growth in the southern Maine region," USDA Rural Development State Director Virginia Manuel said in a prepared statement.
She continued: "Through programs that are available to these towns, businesses can utilize funds to purchase land or equipment, facilitate debt restructuring, conduct feasibility studies, install renewable energy or energy efficient systems, enter into value-added activities and more.”
Businesses in the newly designated areas are now eligible for the following grant and loan programs: the Business and Industry Guaranteed Loan Program, the Rural Energy for America Loan and Grant Program, the Value-Added Producer Grant Program, the Rural Business Enterprise Grant Program, the Rural Business Opportunity Grant Program, the Rural Microentrepreneur Assistance Program, the Intermediary Relending Program and the Biorefinery Assistance Program.
For more information about the programs, visit here or contact Cheryl Pelletier at cheryl.pelletier@me.usda.gov or Brian Wilson at brian.wilson@me.usda.gov.
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