Connect with us

Maine

Grow Maine Small Business Loans Available

Published

on

Grow Maine Small Business Loans Available


Small enterprise loans of as much as $5 million are actually accessible by way of the Midcoast Council of Governments as a collaborating lender in Develop Maine, a state-wide program that gives entry to capital to assist Maine companies develop.

Federally funded by way of the State Small Enterprise Credit score Initiative and administered by the Finance Authority of Maine, Develop Maine will present $62 million to eligible Maine companies by way of its ending companions. Below this program, companies and nonprofits with fewer than 750 workers can apply for direct loans, mortgage ensures, and fairness capital.

Rates of interest are set by collaborating lenders, and the Midcoast Council intends to supply enticing mounted charges at or under the prime rate of interest, which is at the moment 7%. Mortgage funds can be utilized for quite a lot of enterprise functions, together with the acquisition of owner-occupied non-investment actual property, development, renovations, gear, and dealing capital.

Advertisement

Further challenge financing could also be required to safe funding below this system. Small enterprise homeowners might want to leverage $3 in personal capital for each greenback of mortgage funding. Companies or homeowners recognized as socially, economically deprived people could also be eligible to obtain diminished rates of interest and diminished charges and/or mortgage insurance coverage premiums. Certified debtors may additionally be eligible for a diminished personal capital leverage ratio of 1:1.

Midcoast Council of Governments is one among greater than 30 intermediaries collaborating within the Develop Maine lending program. “We’re excited to take part in Develop Maine, as deploying (State Small Enterprise Credit score Initiative) funds will permit us to take part in bigger, high-impact tasks that permit native companies to develop and strengthen the economic system all through the Midcoast area,” stated Mathew Eddy, Midcoast Council of Governments’ govt director.

Structured as a nonprofit council of governments, the Midcoast Council works to strengthen regional financial resilience for all municipalities and counties inside its area, by way of enterprise financing, technical help, and collaborative regional planning. The council serves municipalities and counties positioned throughout the Midcoast Financial Improvement District, which incorporates all of Sagadahoc, Lincoln, and Knox counties, Brunswick and Harpswell in Cumberland County and areas of Waldo County. For extra data, go to midcoastcog.com.



Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Maine

Members of Maine delegation welcome Israel-Hamas ceasefire agreement

Published

on

Members of Maine delegation welcome Israel-Hamas ceasefire agreement


Members of Maine’s congressional delegation welcomed news of a ceasefire agreement in the Israel-Hamas war Wednesday, saying it’s a good first step that will bring hostages home and end the conflict, at least temporarily.

President Joe Biden and other officials announced Wednesday that the two sides have reached a 42-day agreement that includes the release of hostages and Israeli forces withdrawing from more populated areas in Gaza.

The agreement, which is not finalized, is likely to offer respite from a conflict that began in October 2023 and has resulted in the deaths of an estimated 47,000 Palestinians and 2,000 Israelis.

“Today’s ceasefire and hostage agreement is a welcome announcement. … While there is much about the agreement and the future that we do not yet know, what we do know is that the tragedy of October 7 can never be allowed to occur again,” Republican Sen. Susan Collins of Maine said, emphasizing her support for Israel in the statement emailed by her office.

Advertisement

Rep. Jared Golden, D-2nd District, said in a statement Wednesday that the first stage of the agreement calls for an immediate ceasefire, a surge of aid to Gaza and the release of 33 women, children and elderly currently held hostage by Hamas.

Golden said those are all “good first steps.”

“I look forward to the implementation of a final agreement that ensures that all remaining hostages are returned home to their families and that Hamas lays down the weapons it took up when it started this conflict,” he said. “If Hamas abides by the terms of such an agreement, I believe there can be a path towards a more lasting peace in the region.”

Rep. Chellie Pingree, D-1st District, also was relieved to hear of the agreement.

“This could not have been achieved without tireless diplomatic efforts to bring both parties to the table, and I am grateful the Biden Administration got this agreement across the finish line before leaving office,” Pingree said in a statement.

Advertisement

“There is still a lot of uncertainty; the Israeli Cabinet needs to approve the deal, hostages need to be released, and humanitarian aid needs to pour into Gaza. I remain cautiously optimistic, but this is a promising step forward.”

This story will be updated.



Source link

Continue Reading

Maine

Texas man pleads guilty to stealing $400K from vacationing Maine couple

Published

on

Texas man pleads guilty to stealing 0K from vacationing Maine couple


A Texas man has pleaded guilty to stealing nearly $400,000 from a Maine couple while they were on vacation.

Kyle Lawless Pollar, 27, entered his plea to four counts of wire fraud Tuesday in U.S. District Court in Bangor, according to the U.S. attorney’s office.

In August 2022, Pollar called the couple’s bank pretending to be the account holder and requested the account’s balance and updated the contact phone number, the U.S. attorney’s office said Tuesday. Shortly after, Pollar changed the contact email address as well.

Over a two-week period, Pollar made several transfers from the couple’s home equity line of credit to their savings account. Pollar then made four wire transfers totalling $360,880 to a Texas bank account in his name, according to the U.S. attorney’s office.

Advertisement

Pollar transferred $66,000 from one transfer to a jeweler, also in Texas.

The U.S. attorney’s office said that Pollar withdrew funds from his account in cash and cashier’s checks. He then deposited the cashier’s checks in other Texas bank accounts in his name.

He was captured on security camera making deposits and withdrawals, according to the U.S. attorney’s office.

The couple discovered the theft when they returned from vacation and couldn’t log into their bank account. When the bank reset their username and password, they found multiple wire transfers on their statement.

The FBI began investigating in October 2022.

Advertisement

Pollar faces up to 20 years in prison and a fine up to $250,000 for each of the four counts of wire fraud, as well as up to three years of supervised release. He also will be ordered to pay restitution to the victims.



Source link

Continue Reading

Maine

Tell us your favorite local Maine grocery store and the best things to get there

Published

on

Tell us your favorite local Maine grocery store and the best things to get there


Mainers like to hold onto local secrets like precious jewels. The best place to get pizza. The best place to watch the sun rise or set. Secret parking spots that people from away don’t know about.

It’s the same with grocery stores — not just the big chains that dominate the state, but also the little mom-and-pop grocers in towns and cities from Stockholm to Shapleigh. Who’s got the cheapest eggs? The best cuts of meat? A great deli? Farm-fresh produce? There’s a good chance one of your local markets has got at least one of those.

We want to know: what are your favorite hidden gem markets in Maine, and what in particular do they specialize in selling? Let us know in the form below, or leave a comment. We’ll follow up with a story featuring your answers in a few days. We’ll try to keep it just between us Mainers, but we can’t guarantee a few out-of-staters won’t catch on to these local secrets.

Favorite local grocery stores

Advertisement



Source link

Continue Reading

Trending