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. Possibly deferred towards the a case-by-instance base. 3:1 fits (City: Private).
Industrial Fund & Offers
This new Microenterprise Offer System was designed to assistance entrepreneurs, let existing enterprises create capability, generate providers in the target urban area, while increasing the fresh taxation feet. The owner need to be lowest-modest income or use step 1-5 reasonable-average income persons. Qualified items range from financial initiate-upwards assistance including devices, initial product, working capital, rehabilitation out-of place to organize to own providers; general holder help such transport, child care, counseling, peer help, tech advice, otherwise training to increase ability. $dos,000 could well be forgiven not as much as certification as a low-modest income manager otherwise immediately after three months with reported jobs production otherwise storage that will end up being deferred toward an incident-by-instance foundation-3:1 meets (City: Private).
The economic Development Financing Program is designed to assistance companies within the the prospective city (census tracts 201-204), boost jobs and you can functions getting lower to average-income persons, while increasing the brand new taxation ft. Eligible items can include order, chairs, fittings, working-capital, interior design to handle code abuses, devices, and you can gizmos improvements. The company must either render operate in order to reasonable-moderate earnings people or properties so you’re able to at the very least 51% of low-modest earnings anybody. Doing $50,100 on 5% to have a decade. 1:step one fits (City: Private).
The fresh new Facade Upgrade to possess Historical Preservation Program allows homeowners so you can redevelop mixed-have fun with features to possess commercial and home-based objectives and reduce blight. Rehab is bound to the the quantity had a need to treat a specific reputation harmful to personal safety and health. Qualified activities range from architectural framework, outside renovations for instance the entryway, external lighting, signage, window resolve/replacement for, masonry, repointing, decorate, awnings, and you may installment loans Colorado Springs no credit check rooftop substitute for/repairs connected with structural developments to hang facade in place. Candidate should provide paperwork the build is actually detailed or qualified into the Federal Sign in off Historical Towns and cities, listed on your state or regional index off historic metropolitan areas, otherwise designated once the your state otherwise local landmark or adding framework. To $35,000. 1:step one fits. (City: Private)
The latest Facade Upgrade for Industrial Houses System often boost the appearance of commercial town, remind individual capital into the storefronts, and you may assist entrepreneurs having rehabilitating storefronts. Eligible factors may include additional renovations, including the entryway, additional lighting, signage, window fix/replacement, masonry, repointing, color, and awnings. The fresh new applicant have to either very own the building or wrote consent on the proprietor to make alter into facade. Resource is bound simply to industrial portions of your own strengthening. For residents, as much as $thirty-five,100000. 1:1 match (City: Private). To have renters, to $dos,100000, limited by signage and you can lights simply, forgiven once five years in the event that team remains from the place.