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Downtown Micro Capital Loan Fund
| Description: | A revolving loan fund designed to assist small businesses by providing owners of a service or retail establishment which is located in a street level commercial property within the Downtown District, with a portion of their working capital. |
| Eligibility: | Individuls, partnerships and corporations which own, lease, or rent commercial property within the program boundaries, are engaging in retail or service activities on the street level with the subject property. |
| Maximum Amount: | 20000 |
| Interest Rate: | Minimum interest rate will be fixed at cost-of-loan funds plus 1%. |
| Collateral: | Business asset collateral and/or personal guaranties may be required. |
| Terms: | Application fee of 1% of loan (minimum $50, maximum $150). |
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For More Information contact:
389 Congress Street Portland , ME 04101 207-874-8683 207-756-8217 | |