Small businesses make up a significant part of Maine’s economy, not only providing goods and services but also representing that Yankee ingenuity and independent spirit of which we are so proud. With these businesses such an integral part of our state economy, it makes sense to have a little help available to make sure those with entrepreneurial instincts can see their ideas realized.
York County has a strong record of giving boosts to small businesses, and we’re glad to see Sanford looking to expand those offerings with a new loan program called Grow Sanford. The city is looking for support from its small business owners in its application for a $150,000 Community Development Block Grant to fund this effort.
A workshop is set for early March to help business owners fill out statements of support for the city’s application, and we hope many of them attend so the City of Sanford has a strong package to send to the state. If this grant is awarded, money would be available to a wide range of businesses in the city, so long as they meet the eligibility requirements. Business have to be for-profit and employ no more than five people. They must also be current on taxes and conforming to city zoning and permitting rules, as well as meet income limits. Small businesses are also considered if the improvement funded by the grant money would create one or more jobs.
Sanford is a great candidate for funding via this new micro-enterprise grant and loan program. The city is on its way up, with a bustling airport, new schools and a new regional technical center in the works, and mill redevelopment under way. Grants can range from less than $1,000 to as much as $25,000, and a little boost for the existing businesses would certainly help the economy along.
Hopefully, Sanford’s grantwriter, Lee Burnett, will have success in rallying the small business community to support this effort, since it could provide them with a cost-effective way to grow and support their business. Those who are skeptical have only to look to nearby Kennebunk, which has found success with administering the same CDBG grant, according to the town’s Economic Development Director Mat Eddy. He said grants have been used for projects such as equipment upgrades and building improvements. Other approved uses include those for fixtures, furniture, inventory, machinery, technology upgrades, product development and improvements that decrease energy costs.
In Biddeford, new small businesses have been given a boost through the Main Street Challenge program, which provides $10,000 in forgivable loans, along with other incentives such as a break on rent payments and legal advice, to help new ideas get off the ground.
Small businesses, from hairdressers to mechanics and artisan food shops, are what gives each community its own identity, and these funding programs are a way to ensure that they can not only open initially, but also thrive for years to come. These grant programs help keep the doors open on these small shops that give our towns and cities their own character, rather than being dominated by chain stores.
Sanford will need the support of its small businesses, in showing their interest in this grant program, to have a successful application, and we encourage them to participate.
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