Overview

The city regarding Lewiston’s Financial and you may Area Invention Agencies (ECDD) also offers three (3) Financial Invention Providers Guidance Apps: Microenterprise financing, Microenterprise give, and you will Economic Advancement Loan. The city offers three (3) Treatment Software: Facade Deferred Loan to possess Commercial Simply, Facade Deferred Financing to own Historic Maintenance, and you may Residential Financing when you look at the Mixed-Use Attributes. The fresh new investment try administered by City’s Monetary and you may People Invention Agencies. The fresh City’s cover its financial development software was regarding the federal government possesses programmatic conditions that have to be satisfied so you’re able to become funded by the Town.

The fresh new Microenterprise Loan Program is made to help entrepreneurs, let established enterprises build ability, establish business from the target area, while increasing new tax base. The owner should be reasonable-average earnings or implement step one-5 reduced-reasonable earnings individuals. Qualified items range from financial initiate-up help including gizmos, very first device, working capital, rehab regarding room to ready getting providers; general holder help particularly transportation, childcare, counseling, peer service; technology direction; or studies to increase capacity-$ 15,100 at the step one% attract more than five years. Read more