November 3, 2010
ME orgs win $2.1M for business loans
By The Mainebiz News Staff
Four organizations in Maine are receiving a total of $2.1 million in federal aid for rural and small business lending.
The grant and loan funding from the U.S. Department of Agriculture's Rural Microentrepreneur Assistance Program is intended to support small businesses and create jobs in rural communities, according to a press release from U.S. Sens. Olympia Snowe and Susan Collins. The recipients are:
- Androscoggin Valley Council of Governments: $250,000 loan and $62,500 grant;
- Coastal Enterprises Inc.: $500,000 loan, $100,000 grant;
- MaineStream Finance: $500,000 loan, $105,000 grant;
- Northern Maine Development Commission: $500,000 loan, $105,000 grant.
The awards total $2.12 million in funding, according to the release.
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