MaineStream Finance

Article Title: Ran out of Federal/SBA Funds or Never Accessed Them? Here are some options for Small Businesses.

Article Content

What can you do for funding in between Federal (SBA) and State (FAME) programs being available, when unemployment runs out, or when you re-open and not all your customers are bak?  It’s not all bleak and below are a few options that we have found over the last few weeks.  Do be careful– these are moving targets, funds are running out fast and must be replenished, and scammers are looking for you.  We at MaineStream and partners like SBDC and SCORE are here to help guide you through these issues along the way.

Grants (more are on our COVID-19 Small Business website in the “industry-specific” or “donations” sections)

Loans (lower cost and/or some other type of relief).  Please note, loans still must be paid back–carefully pause before borrowing and skip loans altogether if you don’t think you will pay it back. 

-Chris Linder

Portions published in the MaineBiz article, “Maine small-biz funding roundup: more loans, fintech and options for self-employed” on April 22, 2020.

To find out more about Small Business issues during COVID-19, including financing, go here.

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