Standard Commercial Loan

The City provides commercial loans to Portland businesses to facilitate economic growth and job creation. Loans are made to start-ups and existing businesses, for-profit as well as nonprofit, ranging from as little as $10,000 to as much as $200,000. 


ELIGIBILITY:            

  • -Business is not yet bankable or has a loan gap with a bank/credit union                

PROGRAM ELEMENTS:           

  • -Loans up to $50,000 with 5-7 year repayment term                
  • -Loans from $50,000 - $200,000 with up to a 10 year term, 20 year amortization                
  • -Interest rate 1-2 points above the banks                
  • -Nonprofits are also eligible to apply       

APPLY


LOAN DETAILS



WHAT WILL I NEED TO APPLY?

Some of the documentation you will need to submit:    

HOW DO I APPLY?

  • Applications are on google forms. You must log into a google account to fill out the form. If you do not have a google account you can create one HERE                   
  • If you are unable to access an application or have questions, please contact NRH@portlandmaine.gov    

FAQ'S     

When asked how much money I want to request, I keep getting an error message?       

How do I upload files?   

What is a personal financial statement?