The City of Saco is accepting applications for Its Small Business Grant Program to help support economic development and community revitalization efforts.
Donor Name: City of Saco
State: Maine
City: Saco
Type of Grant: Grant
Deadline: Ongoing
Size of the Grant: up to $15,000
Grant Duration: 1 year
Details:
The program offers matching funds for a variety of non-operational expenses. A Small Business Grant application must pertain to a commercial use with 50 or less employees within the City.
The City of Saco is the administrator of this program, led by the Economic Development Department. Their goal is to assist as many qualified projects as funds allow. This grant will be offered on an ongoing basis as funding permits. The award amount is based on available resources, the number of qualified applicants, and other evaluation criteria.
Funding Information
Grants are available for up to $15,000 and require at least a 75:25 match. Therefore, any project over $60,000 would be eligible for the full $15,0000.
Project Period
All projects must be completed within one (1) year of grant approval.
Eligibility Criteria
A Small Business Grant application must pertain to a commercial use with 50 or less employees within the City of Saco. The grant applicant may be the property owner or the tenant, but tenants must have the property owner’s signed approval of the proposed building improvement. Qualifying and non-qualifying grant projects are listed below:
Qualifying projects
- Physical improvements and renovations including leaseholder improvements and rehabilitation activities both interior and/or exterior treatments including business signage, awnings, etc.
- Fixtures, furniture, and equipment related to the business.
- Working capital including relocation expenses.
- Machinery and equipment.
- Related professional services including architectural, engineering, marketing, impact and permitting fees, and other fees and costs.
Non-qualifying projects
- Real Estate acquisitions.
- Refinancing of existing debt.
- Sweat equity – payment for the applicant’s own labor
For more information, visit Small Business Grant Program.