SANFORD — A program to give a boost to small businesses in Sanford and the Village of Springvale ”“ whether to help the owner buy a new piece of equipment or otherwise expand ”“ is now available.
The city was successful in its bid for a grant to help businesses with five or fewer employees. It has $100,000, which can be used for a variety of projects, including purchasing new or upgraded equipment, machinery, new technology, interior improvements, furniture, fixtures, inventory, or other projects that will help expand or upgrade a business or make it more sustainable.
Funding for the program has been secured from the Micro-Enterprise Assistance Grant Program through the Community Block Grant Program.
Sanford Economic Growth Council Executive Director Jim Nimon said applications for the Micro-Enterprise Assistance Program are now being accepted and can be submitted until Friday, Nov. 14. As part of the process, he said applicants will be asked to meet with a business counselor at the Small Business Development Center to review their existing business plan or to create one. Nimon said that service is free, but interested businesses should allow time for the process when planning their applications.
Sanford grantwriter Lee Burnett applied for the funding this spring.
“This is for businesses already invested in the community,” said Burnett. “This is one thing we can do to try and help businesses and we hope they’ll take advantage of it.”
One community that has done so is nearby Kennebunk, which won a $150,000 grant in the 2013 CDBG Micro-Enterprise program. Economic Development director Mat Eddy, in an interview this spring, said it’s been good for businesses in his community. The program has helped Kennebunk businesses like Bel Cibo da Cherie with building upgrades, and has worked with Wallingford Farm, New Morning Natural Foods, The Kennebunk Barber, Seed & Bean and Shield’s Meats on various projects.
Eddy said one business needed as little as $800, earmarked for equipment, while the maximum allowable under the 2013 program was $25,000.
“It’s just the right amount of money,” to help small businesses expand, said Eddy.
There are some eligibility requirements: The businesses must be for-profit and current on all taxes, compliant with zoning and permitting, employ five or fewer people and meet income guidelines, which range from $38,450 annually for a one-person family to $72,500 for a business owner with a family of eight.
Sanford businesses interested in the program should contact Sanford Regional Economic Growth Council by email at [email protected] or by phone at 324-9155.
— Senior Staff Writer Tammy Wells can be contacted at 324-4444 (local call in Sanford) or 282-1535, ext. 327 or [email protected].
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