The Lewiston-Auburn Economic Growth Council has been providing financial assistance to Lewiston and Auburn businesses through its various loan programs for over 30 years.
Loans are available for site purchase and development, construction and rehabilitation, machinery and equipment, working capital, export and trade, research and development, the expansion of current or attraction of new businesses, along with job creation or retention.
The Lewiston-Auburn Economic Growth Council explores traditional and nontraditional resources to meet companies' various financing needs. The Growth Council has a proven record of utilizing lending and packaging skills to leverage financing for businesses that were initially unable to access conventional credit.
Potential funding programs available at the Lewiston-Auburn Economic Growth Council include:
The Finance Authority of Maine (FAME) Regional Economic Development Revolving Loan Program loans of up to $200,000 are available to businesses located in Lewiston or in Auburn.
FAME’s State Small Business Credit Initiative has financing up to $250,000 available to businesses located in Lewiston or in Auburn.
The United States Department of Agriculture-Rural Development has a Rural Microentrepreneur Revolving Fund that provides loans up to $50,000 to businesses located in Lewiston or in Auburn.
The United States Department of Agriculture has a Rural Development Intermediary Relending Program that provides loans up to $150,000 to Auburn businesses.
Over the years, the Growth Council has assisted 123 companies/businesses with a total of $12,825,282 in loans which in turn generated a total investment of $89,776,974 in Lewiston and Auburn. Financing is available for as little as $5,000 or as much as $250,000.
Our partnering agencies include:
Area financial institutions (banks); Androscoggin Valley Council of Governments; Coastal Enterprises, Inc.; Community Concepts; Finance Authority of Maine; the United States Department of Agriculture-Rural Development; and the United States Small Business Administration. The Growth Council will often work with more than one partner per project in order to put a financing package together.
The Growth Council strives to foster a business environment that enhances job opportunities and new investments.
For more information or for an application, contact Paul G. Lacombe, loan portfolio manager at 207-784-0161 or by email: placombe@economicgrowth.org.
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