Grants available for small businesses impacted by pandemic

CARIBOU, Maine (WAGM) -

More help is available for businesses impacted by the pandemic, with a new grant program now available for businesses that meet low- to moderate-income requirements.

The Maine Department of Economic and Community Development, in partnership with the Maine Small Business Development Centers, will provide grants of up to $5,000 for businesses with five or fewer employees, who meet income guidelines. Brandon McDonald, Business Advisor with the Maine SBDC, says this is a new round of funding designed to aid businesses impacted by the pandemic.

“It’s straight revenue loss, you know. It’s a lot easier than having to go through and say ‘what were my expenses,’ ‘what was this, this and this.’ With this grant, you just have to show that you lost revenue. So it - it’s a little bit easier going to register, going to a POS system and saying here - here’s what my sales look like for the year. We - we can calculate based off of that. We do all the work. We take the heavy lifting. Just bring in your - your totals, and we take it from there,” says Brandon McDonald, Business Advisor, Maine SBDC.

McDonald says those who received funding last year may be eligible for this program, if they can prove additional revenue loss. He says additional grant money is expected to be available in the near future. For more information on the program or how to apply, visit our website.

For more information or for an application to apply for a grant, visit https://www.mainesbdc.org/cdbg/ or call Brandon McDonald at 207-493-5770.

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