Building Renovation, Machinery
& Equipment, Leasehold Improvements, Real Estate Acquisition
Terms:
- Up to $200,000 loan amount.
- Up to 20 -year loan terms.
- Application fees are 1% of loan amount.
- Interest rates start at Prime plus up to 7%.
Eligibility:
Any new or existing Portland business that:
- Open to Portland businesses with up to 50 employees or annual sales less than $5. million.
- Businesses need to be involved in one of the following:
Advanced manufacturing
Information system technology
Advanced biological and natural resources
Defense conversions
Exporting
Research & Development
Other business with 5 or fewer employees
- Owes no outstanding
property taxes, liens, fees or judgments to the City of Portland
- Creates or retains jobs
- Has the ability to repay the debt
For further information, contact the
Commercial Loan Officer at dch@portlandmaine.gov
or call 1-800-874-8144.
