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The City of Bangor is offering grant programs for small businesses

$250,000 was allocated for the two grant programs. Applicants have until June 30 to apply for one of two grants.

BANGOR, Maine — It has been a slow and quiet spring and early summer for local restaurants and businesses. While some shops have reopened, business just isn't booming.

The coronavirus pandemic is leaving obvious damage to locally owned stores across Maine which is why the City of Bangor created two grant programs that local businesses can apply for.

The two programs are divided by the size of businesses. Stores and shops with five or fewer employees can apply to the "microenterprise" program.

Each applicant can be awarded grants up to $3,500. The total program was allocated $80,000 from the CARES Act. 

“Obviously it’s no secret that businesses are struggling so even a little bit of money will help a lot," Community and Economic Development Officer Tyler Collins said.

Applicants must also have an owner’s income at or below 80% of the HUD Area Median Income, be a for-profit business with a maximum of $1.0 million annual gross income, and document a minimum of 50 percent decline in sales.

The second program is for businesses with 20 or fewer employees, created at least one job filled by an LMI employee, are a for-profit business with a maximum of $2.5 million annual gross income, and can document a minimum of 50 percent decline in sales.

Credit: NCM

Applicants can receive up to $10,000 and $170,000 is allocated for this program.

"(We're a) service-based economy, we're trying to help them get through another couple months so we can weather this storm and see the other side of it," Collins added.

For more information and applications click below:

The Bangor Small Business Assistance COVID-19 Relief Program offers short-term working capital assistance to eligible, for-profit small businesses to enable the viability of the business during the severe interruption directly related to the COVID-19 pandemic and resulting social distancing. Individual grants are available up to $10,000.

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