Northern maine DEV corp - me
Ended Formula Grant Awarded
- Award ID
- SBAHQ24Y0104
- Recipient
-
Northern Maine Development Commission, Inc. UEI DNN8KN59UJU9
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $366,431
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Caribou, ME 04736, USA
Award details come from USAspending.gov.
About this award
The Federal Grant Award ID SBAHQ24Y0104 is a $366,431 Formula Grant awarded by the U.S. Small Business Administration (SBA) to the Northern Me Dev Commission in Caribou, Maine. The grant funding supports the SBA's Microloan Program (CFDA 59.046), which provides microloans up to $50,000 and technical assistance to small businesses, particularly those owned by women, minorities, and low-income individuals in underserved communities.
As a Community Development Financial Institution (CDFI) and non-profit organization, the Northern Me Dev Commission will use the funding to offer critical financial and business development services, including microloans, training, and technical assistance, to small businesses and entrepreneurs in Aroostook and Washington counties in Northern Maine. This grant award, with a performance period from July 1, 2024 to June 30, 2025, is part of the SBA's broader efforts to foster entrepreneurship and economic development in areas lacking traditional credit access.
Quick answers
Who received award SBAHQ24Y0104?
SBAHQ24Y0104 was awarded to Northern Maine Development Commission, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2024.
How much is award SBAHQ24Y0104 worth?
$366,431 has been obligated on SBAHQ24Y0104.
Which agency awarded SBAHQ24Y0104?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ24Y0104, with funding from Office of Capital Access (Small Business Administration).
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