Eligible Businesses: |
Businesses that have sales under $5,000,000 or employ 50 or fewer employees, conducting business in one of the following categories:
- Advanced manufacturing technologies
- Advanced information systems
- Advanced biological/natural resource technologies
- Conversion from the defense industry
- Significant export involvement
- Significant research and development
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Program Summary: |
The Regional Economic Development Revolving Loan Program is designed to make loans through the state's Regional Economic Development Agencies for the purpose of creating or retaining jobs. The Finance Authority of Maine makes disbursements to the Regional Economic Development Agencies and these agencies in turn make loans to eligible borrowers. Loan amounts can equal up to one-third of total project costs to a maximum of $200,000.
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Program Example: |
A 25-person biotechnology firm receives a $150,000, below-market loan to assist in financing the construction of additional laboratory space on their existing facility.
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