• Jan 29, 22
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

Lewiston-Auburn Economic Growth Council provides gap financing to commercial enterprises which will create jobs and stimulate economic activity through the establishment of new, and expansion of, existing businesses in Auburn, Maine.

Intermediary Relending Program (USDA-RD-IRP) – Loan Amount – 25% of total project cost or $150,000 max – Interest – Varies, typically 8% – Term – Varies, usually 5 years, not to exceed 20 – Collateral – Business Assets, Real Estate & Personal Property and Guaranty – Eligible Activities –« Site Purchase & Development –« Construction & Rehabilitation –« Machinery & Equipment –« Working Capital – Eligible Applicants –« Industrial / Manufacturer –« Wholesale / Distributor –« Service / Retailer – Other Requirements – Impact of Jobs Created or Retained Revolving Loan Fund (RLF) – Loan Amount – 25% or $15,000 – $125,000 – Interest – Varies, typically 8% – Term – Varies, usually 5 years, not to exceed 20 – Collateral – Business Assets, Real Estate & Personal Property and Guaranty – Eligible Activities –« Site Purchase & Development –« Construction & Rehabilitation –« Machinery & Equipment –« Working Capital – Eligible Applicants –« Industrial / Manufacturer –« Wholesale / Distributor – Other Requirements – Jobs Created: 1 per $25K loaned, 51% low/med Micro-Enterprise Loan Program Loan Amount – Up to $15,000 – Interest Rate- Varies, typically 8% – Term – Varies, usually 5 years – Collateral – Business Assets, Real Estate & Personal Property and Guaranty – Eligible Activities –« Site Purchase & Development –« Construction & Rehabilitation –« Machinery & Equipment –« Working Capital – Eligible Applicants –« Industrial / Manufacturer –« Wholesale / Distributor –« Limited Commercial –« Projects in Community Development Program Target Areas – Other Requirements – Jobs Created / Retained: 1 per $25K loaned within 6 months



Contact Information
Lewiston-Auburn Economic Growth Council
Address: 415 Lisbon Street
City: Lewiston
State: Maine

Website: http://economicgrowth.org/business/loan-programs/

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