Governor Mills Launches $200 Million Economic Recovery Grant Program to Support Maine Small Businesses
“The program, backed by $200 million in Federal CARES Act Coronavirus Relief Funds (CRF), will provide financial relief for businesses and non-profit organizations that incurred business disruptions as a result of the COVID-19 pandemic. The grants are intended to help sustain the viability of Maine’s small businesses and nonprofits – not to replace lost profits – and will provide short-term relief to help stabilize Maine’s economy while still focusing on the state’s long-term goals described in the state’s 10-year strategic economic development plan. The program draws on a recommendation from the Governor’s Economic Recovery Committee.
In order to qualify for a grant, a business or nonprofit must demonstrate a need for financial relief based on lost revenues minus expenses incurred since March 1, 2020 due to COVID-19 impacts or related public health response. The business or organization must also:
- have significant operations in Maine, meaning it is headquartered in the state or has a minimum of half its employees in Maine;
- employ less than a combined total of 50 employees and contract employees;
- have been in operation for at least one year before August 1, 2020; not currently be in bankruptcy and not permanently have ceased operations;
- be current and in good standing with all Maine State payroll taxes, sales taxes, and state income taxes through July 31, 2020 and be in good standing with the Maine Department of Labor; and
- be in consistent compliance and not subject to any enforcement action with COVID-19 Prevention Checklist requirements.
In order to avoid a competitive rush for awards, the grants will not be distributed on a first-come, first served basis. Instead, businesses and nonprofit organizations can apply for a grant beginning tomorrow August 21, 2020 through September 9, 2020 with awards made in early October. The amount awarded will be based on demonstrated need as a pro-rated percentage of the total cost of business interruption reported by qualified applicants.”