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Friday, April 29, 2016

25 Maine Small Businesses Get Over $690,000 in Funding

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Micro businesses across the state of Maine recently received a big piece of the pie from the Maine Department of Economic and Community Development (DECD). The state's Micro-Enterprise Assistance grant program awarded grants totaling $690,300 to 25 small businesses across 7 communities in Maine.

Micro-Enterprise Assistance program provides grant funding to communities in Maine which enables them to offer grants to micro-enterprise businesses. The purpose of the grant program is "to achieve greater prosperity across Maine," according to DECD Commissioner George Gervais. Investing in small businesses not only supports small business owners but creates jobs and improves the state's economy.

Grant sizes

The grants ranged anywhere between about $18,500 to $50,000 per business. Companies who received grants included breweries, lighting companies, cleaning services, transportation companies, agriculture producers and others. Grant money was used by many for improving the facade of their buildings. Others used the grant money to purchase inventory, equipment, and technology.

Qualifications

Small businesses who qualify for the program must employ 5 or fewer persons. Business owners must benefit low-to moderate-income persons or create up to two (2) full-time equivalent (FTE) jobs for low-to moderate-income individuals. The maximum grant amount to individual businesses is $50,000.

Read more at www.mainebiz.biz/article/20160428/NEWS0101/160429945/27-maine-small-business-nab-$690k-in-grant-funding
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