Areas Served: City of Caribou
The Caribou, Maine Chamber of Commerce offers a revolving loan fund for businesses in Caribou, Maine.
Activities that can be financed in part with CDF monies include, but are not limited to: – Real property acquisition – Capital equipment – Building construction and/or renovation – On-site utilities and streets – Off-site utilities necessary only to serve the proposed project – Inventories – Working capital – Relocation of persons and/or business – Professional fees LOAN LIMITATIONS, TERMS AND CONDITIONS: To be eligible for assistance under this program, the following criteria must be met: – Eligible businesses must be located within the corporate boundaries of the City of Caribou; with emphasis for location into established business and industrial parks.
– Borrower cash injection of not less than 10% of the total project cost will be required.
– The CDF loan must be used only to fill a financing gap.
CDF monies will be used to fund no more than 40% of the total project coSt. – Applicant must provide assurance that the project can only proceed with the injection of CDF monies.
– Applicant must provide demonstrated management ability and experience in the proposed venture with the ability to repay the proposed financing.
– CDF monies used in conjunction with FAME funds will not exceed 45% of the total project coSt.
Contact InformationCaribou, Maine Chamber of Commerce
Address: 657 Main St
City: Caribou
State: Maine
Website:
http://www.cariboumaine.net/industry.html
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