Maine Business & Economic Dev. Funding Opportunities
Emmy
The first two programs below are probably the most interesting to our Maine Co-ops. The applications for these two programs will be available in September. Make sure to read up on the qualifications and application process so that you are ready to hit the ground running. The last three programs might apply to some of you as well and all have earlier application deadlines.
---
Business Support Program: Thrive Maine - Pandemic Recovery Business Loan Program
Governor Janet Mills is dedicating $58 million through her Maine Jobs & Recovery Plan to provide forgivable loans to small businesses in Maine to support their continued economic recovery from the COVID-19 pandemic.
The new “Thrive Maine” program, administered by the Finance Authority of Maine, (FAME) will offer forgivable loans to eligible Maine small businesses who experienced losses, increased costs, or market interruptions as a result of the pandemic. Small businesses may apply for loans of up to $2 million. If businesses are approved and continue to meet program terms, loans may be fully forgiven over a four year period. Applications are expected to be available in September 2022.
Full eligibility details and other information can be found at www.famemaine.com/thrive.
Business Support Programs: Grow Maine - State Small Business Credit Initiative
Grow Maine, administered by FAME in conjunction with various statewide lending partners, will provide up to $62 million of State Small Business Credit Initiative (SSBCI) funding to eligible Maine businesses. Eligible businesses include for-profit and nonprofit companies with fewer than 500 employees. Funding will be available through FAME and its intermediary partners via loan guarantees, direct loans, and equity capital. Loans up to $5 million will be available (not to exceed $20 million per project) and interest rates will be set by the participating lending institution. Grow Maine is intended to provide broad access to capital to help Maine businesses grow and provide jobs for Maine people that will have long-term positive effects on Maine’s economy.
Applications are expected to be available in September 2022.
For more information, visit the program website: FAME Grow Maine.
To view the Governor’s Grow Maine press release, click here.
RFP: Maine Domestic Trade Pilot Program Manager
Important dates:
· Submitted Questions Due – July 27th, 2022
· Proposal Submission Deadline – August 17th, 2022
The State of Maine is seeking proposals for a program management contractor to assist the Office of Business Development with the development and implementation of the Domestic Trade Pilot Program to help Maine businesses with domestic trade. The pilot program will assist industries negatively impacted by the COVID-19 pandemic, including construction, trades, logistics, manufacturing, agriculture, fishing and forestry, information, clean energy, and retail (includes wholesale).
A copy of the RFP, as well as the Question & Answer Summary and all amendments related to the RFP, can be obtained at: https://www.maine.gov/dafs/bbm/procurementservices/vendors/rfps
RFP: Economic Recovery Implementation Regional Hubs
Important dates:
· Bidder’s Conference – August 8th, 2022
· Submitted Questions Due – August 18th, 2022
· Proposal Submission Deadline – September 8th, 2022
The State of Maine is seeking proposals from to oversee, manage, and establish up to eight (8) regional Economic Recovery Implementation Hubs further support communities across Maine as they mitigate adverse economic impacts resulting from the COVID19 pandemic in three overarching direct support areas for businesses: direct small business assistance, direct technical assistance and entrepreneurial training.
A copy of the RFP, as well as the Question & Answer Summary and all amendments related to the RFP, can be obtained at: https://www.maine.gov/dafs/bbm/procurementservices/vendors/rfps
Grant RFA: Diversity, Equity, Inclusion and Belonging Communities of Practice
Submission Deadline: August 10th, 2022
The Department of Economic and Community Development has released a grant program to identify and fund up to three Communities of Practice in support the economic recovery of at least one key industry through a diversity, equity, inclusion and belonging lens. Communities will design and execute a meaningful, impactful and outcome-based regional or local action plan to meet this objective. Some of Maine’s key industries include but are not limited to: Health Care & Social Assistance; Construction, Trade, Logistics; Manufacturing; Fishing, & Forestry; Information and Clean Energy. For more information, visit the RFA listing at: https://www.maine.gov/dafs/bbm/procurementservices/vendors/grants
- Sign up for the CMBA Newsletter HERE for regular updates on the Maine Cooperative Ecosystem!
- Become a CMBA Member - are you representing a co-op or just want to support the cooperative movement and development in Maine? Become a member of CMBA!
- Follow CMBA on FB