With COVID-19 on everyone’s mind, MaineStream Finance and Penquis have taken measures to ensure the health and safety of our families, friends, and clients in Maine by moving to virtual operations. During this time, all MaineStream Finance & Penquis economic development operations will operate as usual with the exception of in-person classes and appointments – all classes and appointments will take place virtually. Below are some efforts we have been a part of during this time and how to reach our team.
COVID-19 Related Resources – Housing, Personal Finance, and Small Business
We have created special resource pages for Mainers wanting to learn more or access services on Housing, Personal Finance, Small Business and New Mainers. Also, check out our news and blog sections.
- MaineStream Blog, Calendar, and News
- Housing Resources & Updates for Mainers during COVID-19
- Personal Finance in Maine – Resources & Updates during COVID-19
- Small Businesses in Maine – Resources & Updates during COVID-19
- Please see Penquis CAP’s website at www.penquis.org for further updates on our programs in housing, protecting the family, education, and transportation.
- Need help – not sure where to go? Call Maine 211.
SMALL BUSINESS BOOSTER LOAN: We have launched a $10,000 booster loan for Maine small businesses, particularly for the self-employed who were not able to access other SBA programs during the COVID-19 Crisis. Learn more here.
- Nonprofit lenders in Maine attempt to fill gaps between federal bailout programs (PH, May 18) – MaineStream, CEI, and Community Concepts, all CDFIs, launch emergency loans for small businesses who did not access SBA programs or did not receive enough.
SMALL BUSINESS POWERUP GRANT: With generous support from Machias Savings Bank, MaineStream was able to help 10 business owners with a $500 grant to pay for needed expenses, such as updating their website/selling online, social media, updating your IT equipment, software, etc. to reopen, follow State checklists, or pivot their business. The grant portion of this program has closed, but we continue to provide COVID-related technical assistance to Maine small businesses for adapting and pivoting. FMI visit our business advisory page.
Moving Classes & Workshops Online
HOME BUYER EDUCATION: For all Mainers seeking Home Buyer Education classes you now have two choices again:
SMALL BUSINESS WORKSHOPS
Several of our workshops will be held online throughout the Spring and Summer of 2020. Click on the links below for more information.
Please contact the following for assistance:
- Home Loans: Roberta Teeto, firstname.lastname@example.org, 207-973-3624 (click here FMI)
- Homeownership Classes and Counseling: Heather Massow, email@example.com, 207-974-2403 (FMI, click here for classes and counseling)
- Business Lending and Counseling: Matthew Lewis, firstname.lastname@example.org, 207-973-3509 (FMI, click here for biz lending and biz counseling)
- Personal Finance, Coaching & Savings: Rebecca Grant, email@example.com, 207-974-2459 (click here for FMI)
Want a quick question answered or link to the right resource? Message us on Facebook @mainestreamfinance / MaineStream Finance. We will be monitoring comments, chat, and the message inbox on our page here M-F 8 AM – 4:30 PM each week!
COVID-19 Related Initiatives
MaineStream Finance and/or Penquis have signed on to the following initiatives during this time:
Community Development Financial Institutions (CDFI)-related
- New Markets Tax Credit (NMTC) Permanent Re-authorization – sign-on letter – NMTC Coalition (June)
- The CDFI Coalition and Opportunity Finance Network (OFN) are seeking an additional $1 billion in support to CDFIs like MaineStream to support our borrowers through this time. Sign on below! (May)
- An Open Letter From CDFI Leaders to our Supporters (for donors and lenders to help community lenders like MaineStream) (April)
- The Most Vulnerable Small Businesses and Communities Will Be Left Behind Without Targeted Action: The Fed and Treasury Can Make Sure They Are Not – sign on letter coordinated by Aspen Institute and Financial Access Initiative (FAI) (April)
Housing Counseling – Homeownership and Renter protections
- National Community Reinvestment Council (NCRC) sign-on letter for additional housing counseling funding through CARES Act 2.0. (May)
- National Housing Resource Center (NHRC) and HUD Intermediaries are seeking $150 million in housing counseling support for the on-coming issues with foreclosures and tenant evictions. (April)
- National Low Income Housing Coalition (NLIHC) letter to Congress to provide emergency rental assistance to ensure housing stability during the COVID-19 pandemic. (May)
Personal Finance – Financial Coaching
- Sign on letter campaign to encourage the CFPB to utilize funds available through its Civil Penalty Fund – sponsored by Credit Builders Alliance (CBA) – to enable non-profits to deliver outstanding financial counseling, coaching and education to individuals and families struggling through the COVID-19 crisis. (April)
Nonprofit – Health and Racial Equity Related
- Portland Chamber of Commerce Pledge – Standing in Solidarity Against Racial and Social Injustice
- Nonprofit Community Letter to Maine Congressional Delegation – coordinated by the Maine Association of Nonprofits (MANP) for improving access to credit, improving charitable deductions, increase emergency funding to local governments, and allowing access to the unemployment system (even if self-insured). (May)