Areas Served: Androscoggin, Franklin or Oxford Counties
AVCOG provides financing assistance for start-ups, expansions and modernizations throughout the tri-county area.
Funding for the agency’s lending, grant and technical assistance programs are secured through a mix of state and federal loan and grant programs and strategic partnerships.
In addition to our direct loan programs, AVCOG also provides assistance to businesses in accessing other local and state sources of financing.
In order to be eligible for the micro-loan program businesses must meet the following eligibility criteria: – Be located in Androscoggin, Franklin or Oxford Counties – Average annual sales for preceding three years must not exceed $5 million – Must have fewer than 100 employees – Entire project cost must not exceed $105,000 Loan Amount Up to $35,000 Interest Rate Fixed Rate, 10% Loan Term – To be based on the business’ cash flow and useful life of assets being financed; not to exceed 6 years – Prepayment is allowed without penalty Loan Uses Real estate acquisition, building improvements, furniture and fixtures, equipment, inventory, supplies, working capital and/or refinancing debt Fees Closing costs only
Contact InformationAndroscoggin Valley Council of Governments
Address: 125 Manley Road
City: Auburn
State: Maine
Website:
http://www.avcog.org/index.aspx?nid=952
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