Portland relaunches small business grant programs
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The latest rounds of funding aim to create jobs for low- and moderate-income residents, and to support their businesses.
The city of Portland is relaunching its Business Assistance Grant Program for Job Creation with grants of $10,000 per full-time job created, up to $20,000 per business.
The purpose of the $300,000 program is to create jobs for low- and moderate-income individuals by providing startups and existing businesses with grants that can be used for rent, utilities, payroll, equipment, inventory and other expenses.
Permanent full-time jobs must be filled by low/moderate income individuals after the grant is approved. Applications are due by Dec. 1.
The city is also relaunching its Microenterprise Grant Program, which provides up to $5,000 for businesses whose owners have low or moderate income. The program is also expanding eligibility in two ways. Small businesses that have opened since the pandemic began are now eligible to apply, as well as businesses with three or fewer employees.
The program does not have a deadline for applications as they will be accepted when received. Portland businesses are encouraged to apply early since funds remaining for this program are limited.
More information about these programs and the application process are available at portlandmaine.gov/BusinessFinancing. Questions about these programs can be directed to Nelle Hanig, business programs manager in the Portland Housing and Economic Development Department, at nrh@portlandmaine.gov or 207-756-8019.
Decisions on grant awards will be made by the Portland Development Corporation, the city’s loan and grant board.
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