Areas Served: Kennebec, Somerset, or western Waldo County
KVCOG provides financing assistance for Maine start-ups, expansions and modernizations throughout the tri-county area of Kennebec, Somerset, or western Waldo County.
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, KVCOG also provides assistance to businesses in accessing other local and state sources of financing.
In order to be eligible for the business loan program, the business must be located in Kennebec, Somerset, or western Waldo County.
The business must be unable to finance the proposed project from its own resources or through commercial credit or other Federal, State or local programs at reasonable rates and terms.
Loan Amount Loans up to $200,000 Interest Rate Rates are fixed and competitive.
Loan Term Typically 15 years or less based on the business’s cash flow and the useful life of the financed assets.
Loan Uses Real estate acquisition, building improvements, furniture and fixtures, equipment, inventory, supplies, working capital and/or refinancing debt.
Security/Collateral Assets being financed and other collateral, personal assets and personal guarantees, as required.
Fees 1 to 1.5% origination fee plus closing costs.
Contact InformationKennebec Valley Council of Governments
Address: 17 Main St
City: Fairfiled
State: Maine
Website:
http://www.kvcog.org/finance.htm
Leave a Reply