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Loan Programs
Loans and grants that help businesses alleviate the impact of the COVID-19 crisis.
The Greater Portland Council of Government Loan Programs are designed to provide financial assistance to businesses. GPCOG has four primary loan offerings to help alleviate the impact of the COVID-19 crisis for businesses in Cumberland County.
Watch our webinar as we explain how the GPCOG forgivable loan programs.
Microenterprise Program
Assistance for Owners
Who is this for? This program is targeted to assist small business owners maintain operations.
$5000 per business, no fees, forgivable, conditions apply
Do you qualify?
- 0 to 5 employees (including the owner/s)
- Business must be located within Cumberland County (excluding Portland, Bridgton and Brunswick.) Additional funds are available for South Portland businesses.
- Business owners must qualify as earning 80% of the area's median income based on their town of residence.
Job Program
Assistance for job creation/retention
Who is this for? This program is targeted to help businesses maintain employees who are most at risk for losing their jobs.
Up to $10,000 per business, no fees, forgivable, conditions apply
Do you qualify?
The Job Creation/ Retention Program provides funding for small businesses that have between two (2) to twenty-five (25) employees and will be creating new jobs or retaining existing positions.
The program is available to for-profit businesses located within Cumberland County (excluding Portland, Bridgton and Brunswick.) Additional funds are available for South Portland businesses.
Rapid-Response Microloan Program
Small business loans
Who is this for? Small to medium-sized businesses with fewer than 50 employees or sales of less than $5 million are eligible.
Up to $10,000 per business of which up to $2,500 is forgivable, fees and conditions apply
Do you qualify?
- 1+ employees (not including the owner)
- Businesses located in the Greater Portland region preferred
- South Portland Businesses: Additional funding available for South Portland-based businesses, some conditions apply. Learn more about the South Portland Loan Program.
- Yarmouth Businesses: Additional funding available for Yarmouth based businesses, conditions vary: up to $5,000 per business, of which up to $3750 can be forgivable. Learn more about the Yarmouth Loan Program.
Learn more about the Rapid-Response Microloan Program
Regional Revolving Loan Program
For small and medium-sized businesses
Who is this for? Small to medium-sized businesses with fewer than 50 employees or sales of less than $5 million are eligible to apply. The program prioritizes three industry cluster areas: food, energy, and freight.
Up to $250,000 per business, fees, restrictions, and conditions apply.
Do you qualify?
- 1+ employees (not including the owner)
- Businesses located in the Greater Portland region preferred