The Rural Business Cooperative Services (RBCS) awarded Northern Maine Development Commission, Inc. a $249,418 project grant on September 18, 2025, under the Rural Microentrepreneur Assistance Program (CFDA 10.870). The award, with an ultimate completion date of September 18, 2027, supports the organization's efforts to develop and strengthen its rural microloan organization and provide technical assistance to microentrepreneurs in Maine. As a Microenterprise Development Organization (MDO), Northern Maine Development Commission will utilize these funds to capitalize its revolving microloan fund and deliver targeted training, business planning, and operational support services to rural microentrepreneurs who lack access to conventional financing.
Under the program guidelines, the funding enables the organization to make fixed-rate microloans of up to $50,000 to startup and growing rural microenterprises while providing complementary technical assistance services tailored to borrower needs. Northern Maine Development Commission, operating as a Community Development Financial Institution (CDFI) serving Aroostook and Washington counties, will maintain required loan portfolio and training records and must disburse at least one microloan within 30 days of each funding disbursement to ensure active capital deployment throughout the two-year project period.