Development orgs. get $1.2M
Two Maine organizations have been selected to receive a total of $1.2 million to support rural business development.
Community Concepts Finance Corp. and the Lewiston-Auburn Economic Growth Council are two of 35 microdevelopment organizations in the country to receive money from the U.S. Department of Agriculture, according to a press release. Community Concepts will receive a loan of $500,000 and a grant of $150,000 to fund a revolving rural microloan fund accessible to microentrepreneurs in Androscoggin, Franklin, Oxford, Piscataquis and Somerset counties. LAEGC will receive the same amount of funding for a microloan program for entrepreneurs in Lewiston and Auburn.
The Rural Microentrepreneur Assistance Program aims to create jobs in rural areas and support local communities. The organizations also provide business training and technical assistance to entrepreneurs.
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