Press Releases

Midcoast Council of Government will provide training and distribute loans to businesses in Knox, Lincoln, Sagadahoc, Cumberland, and Waldo counties

Congresswoman Chellie Pingree announced todaythat the Midcoast Council of Governments would receive a $105,000 grant and$500,000 loan from USDA Rural Development through the Rural Micro-entrepreneur Assistance Program (RMAP).

“This is a very exciting opportunity to provide small businesses in the Midcoast with the capital and assistance they need to take their operations to the next level and create new jobs. With funding being distributed to so many different small businesses, this valuable investment will have a wide impact,” said Pingree. “My congratulations and appreciation go to Midcoast Council of Governments for leading this important program.”

Under RMAP, USDA provides loans to organizations that, in turn, make microloans to eligible small businesses with 10 or fewer employees for start-up or development. RMAP grants are used by organizations to provide technical assistance and training to micro-entrepreneurs.

Midcoast Council of Governments will use the funding to make microloans and provide training to very small businesses inKnox, Lincoln, Sagadahoc, Cumberland, and Waldo counties.

Northern Maine Development Commission will also receive a $500,000 RMAP grant for microloans in Aroostook, Washington, Penobscot, and Piscataquis counties.

USDA Rural Development State Director Virginia Manuel said, “These USDA Rural Development funds will have asignificant impact on business and economic development in nine Maine counties, as well as a substantial impact on business development and job creation and retention in Maine. Through relending of these critical funds, a total of 68 small Maine businesses will be assisted and 165 jobs created or retained throughout our state.”