Small Business Assistance

CDBG COVID-19 recovery grant application; Please look at the chart documenting income limits, as this grant is for business owners who are income-eligible as LMI (Low-Moderate Income). This is your AGI (Adjusted Gross Income) for 2019.

You will need the following to apply:

  • A copy of their 2019 tax return to document income eligibility
  • You 2019 Schedule C (Profit & Loss Statement) – or accounting records from 2019 , and records of loss in 2020 – either interim accounting records, or documented cost increases due to COVID-19.

Unfortunately, the following businesses are disqualified:

  • Businesses created in 2020
  • Businesses with more than 5 employees
  • Applicants who are not currently open
  • Businesses co-owned (not including co-signed) by someone who does not meet LMI
  • Non-profit organizations
  • Businesses who do not have their 2019 income taxes (even with an extension)

 

These grants are first-come, first-serve. They are processed in the order that they are received, as long as they are complete. If you do not fit these boxes, please let me know. There may be some additional assistance that is not low/moderate-income coming in the next few weeks. If you have additional questions please contact; Brandon McDonald (207) 493-5770.

 

The Maine Department of Economic & Community Development (DECD) has released two information sheets on available Resources for Maine Businesses Impacted by the COVID-19 Pandemic. Links to these information sheets are listed below.

DECD SBA Info

DECD Paycheck Protection Program Info

For additional updates please visit the Maine DECD website.

In addition to the above information sheets, the Governor’s website also has useful information for businesses that need assistance as well as how to protect you and your employees during these uncertain times.