The city of Lewiston is offering business owners the opportunity to receive development grants of up to $40,000 and loans up to $50,000.
The Business Opportunity Loan Program, now in its second year, is designed to support both startups and existing businesses to help create jobs and enhance the tax base.
Recipients can use the funds to expand their services in Lewiston or to relocate within the city, buy equipment, or address code issues.
A total of $415,000 is available between the grants and loans for this year’s program. Up to five grants and four loans can be awarded, and amounts will depend on the strength of the application and supporting materials.
Loans up to $50,000 will carry a 5% interest rate over 10 years. Grants are also available.
“Business owners looking to put their ideas to work will find Lewiston an ideal place to build and grow,” said Bryan Kaenrath, Lewiston city administrator. “Our location connects businesses to customers across the region, while our workforce gives them a foundation to grow.
“Being business-friendly also means helping owners overcome the financial hurdles of opening their doors or taking their business in a new direction,” Kaenrath added. “This program puts capital behind their plans, helping make that next step possible right here in Lewiston.”
The program was launched last year with $180,000 in funding, which supported 16 businesses.
More information
The city has scheduled complimentary training sessions for applicants. The first session will be held Tuesday, Oct. 13, from 8-9 a.m., at the Lewiston Auburn Metro Chamber of Commerce office, 415 Lisbon St., Suite 100.
Additional sessions are scheduled for Nov. 10 at 5 p.m., at the Lewiston Public Library, at 200 Lisbon St., and Dec. 8 at 5 p.m., at the Lewiston Colisée, at 190 Birch St.
More information can be found at www.lewistonmaine.gov/BOG2026, by calling 207-513-3126, or by emailing ECDGrantProgram@LewistonMaine.gov.
