Maine MicroEnterprise Initiative Grant

Maine MicroEnterprise Initiative Grant is sponsored by Maine. A grant program aimed at supporting microenterprises in Maine.

Microenterprise Assistance Program | Department of Economic and Community Development Economic Recovery Grants Information HERE Project Development and Forms Municipal Tax Increment Financing Brownfield Revolving Loan Fund Program Microenterprise Assistance Program The Micro-Enterprise Assistance Grant (MEA) Program provides grant funds to assist in innovative solutions to problems faced by micro-enterprise businesses.

Assistance to businesses may be in the form of grants or loans at the discretion of the community.

Eligible Activities: Eligible activities under the Micro-Enterprise Assistance category are grants or loans to for-profit businesses that can be used for working capital and interior renovations, grants or loans for exterior improvements, including signage, painting, siding, awnings, lighting, display windows and other approved improvements; and eligible planning activities necessary to complete the Project Development Phase.

Sewer, water, storm drainage, parking, roads or streets and other infrastructure improvements and buildings solely for residential use are not eligible.

Exclusions: See Section 1H (3) Micro-Enterprise Assistance Loan Repayments – Communities that establish Micro-Enterprise Assistance as loans, and anticipate receiving $35,000 or more in loan repayments, must utilize the services of a Community Development Financial Institution (CDFI) or a Community Based Development Organization (CBDO) as defined in Section 105(a)(15) of the Housing and Community Development Act of 1974, to manage repayments and subsequent relending.

Micro-Enterprise Assistance Grants will be structured as forgivable loans. Maximum MEA Grant Amount: $150,000 per Community per year. Maximum Amount of Micro-Enterprise Assistance to an individual Business: $50,000 Please see the current Program Statement for further program information.