York, Oxford county firms can tap $1.1M loan program
A new $1.1 million revolving loan program for small- to mid-sized businesses in York and southern Oxford counties is set to begin in June.
The Portland Press Herald reported the new program is starting after being funded with $500,000 from the federal Economic Development Administration and a matching $600,000 from the Biddeford-Saco Economic Development Corp. The Southern Maine Planning & Development Commission, in conjunction with BSEDC, will help administer the program.
Companies with five to 50 employees in York and southern Oxford counties will be eligible for loans ranging from $50,000 to $200,000. The loan program is not meant to boost any particular industry, but to help redevelop a region that is reeling from a decline in manufacturing jobs, according to statements by U.S. Sen. Angus King and U.S. Reps. Chellie Pingree and Mike Michaud.
Most Recent
Most Recent
Comments