For Immediate Release
June 23, 2020
Contact: Tyler Collins, Community & Economic Development Officer
tyler.collins@bangormaine.gov
207-992-4280
City of Bangor Offers Grant Programs for Businesses Impacted by COVID-19
BANGOR, MAINE—The City of Bangor is offering two financial assistance opportunities to Bangor businesses impacted by the severe interruption of operations resulting from the COVID-19 pandemic. The programs will assist eligible, for-profit businesses with a grant of up to $10,000. Funding for these programs is provided through the City of Bangor’s Community Development Block Grant Program with funding from the U.S. Department of Housing and Urban Development (HUD).
The grant funds can be used to pay for up to two months of normal business operating expenses, such as utilities, supplies, business taxes, employee wages, and rent. Employees of the City of Bangor or City of Bangor elected officials are not eligible.
The first program provides short-term working capital grants of up to $3,500 to microenterprises, and $80,000 is allocated for this program.
To be eligible for the first program, a business must:
- Have five or fewer employees
- 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
- Document a minimum of 50% decline in sales
The second program provides short-term working capital grants of up to $10,000 to small businesses, and $170,000 is allocated for this program.
To be eligible for the second program, a business must:
- Have 20 or fewer employees
- Create at least one job filled by an LMI employee
- Be a for-profit business with a maximum of $2.5 million annual gross income
- Document a minimum of 50% decline in sales
Additional information and applications are available on the City’s website at www.bangormaine.gov/covidrelief. Applications for both grants are due by June 30, 2020. Interested parties are urged to read the guidelines for each program which contain additional restrictions.
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The City of Bangor, Maine is a service center community of 33,039 residents and is the county seat of Penobscot County. Bangor is the major commercial and cultural center for much of northern and eastern Maine. The City is an equal opportunity employer and service provider. For information on City projects and news, see www.bangormaine.gov.