Small businesses in Bangor can apply for COVID-19 relief grants until the end of the month
Bangor is offering grants to small businesses impacted by the COVID-19 pandemic.
Bangor Community & Economic Development officer Tyler Collins says local businesses are hurting.
"One of the main things that we have heard and continue to hear is businesses are struggling. The SBA released a couple of programs, the PPP and the disaster loan program. FAME has some programs, but we're hearing that it's not quite enough for businesses to make ends meet. So, we're hoping that this can kind of fill in that gap."
The city has received $498,000 in community development funds through the CARES act.
$250,000 is now earmarked to help small businesses.
To be eligible for a grant, businesses have to show a 50% reduction in sales compared to last year.
"The first program is a micro-enterprise program available to businesses with five or fewer employees one of which is the owner."
That program provides up to $3,500. The second program is for businesses with twenty or fewer employees and provides up to $10,000.
"Smaller businesses operate on a thinner margin, so we really want to help folks that need help. We feel that it's going to be a pretty high demand."
The funds are limited, so to give every eligible business an equal chance, the awardees will be selected at random if there are too many applicants.
"Each application will be assigned a unique number, and when we have the list of numbers, we'll run the randomizer."
The deadline for applications is June 30th.
Business owners should visit Bangormaine.gov/covidrelief to find out more about restrictions and to apply.
You can find a link in the sidebar.