Grow Sanford Program Seeks to Help Small Businesses Expand


February 12, 2014

Do you own a small business in Sanford that you’d like to expand if only you had access to funding?

If so, please support the City of Sanford’s application for CDBG funds to establish a micro-enterprise assistance program. Up to $150,000 is available to set up the fund.


Please speak in favor of setting up the program at a public hearing scheduled for
7 p.m. Tuesday Feb. 18th
at the City Council Chambers in Town Hall Annex.
 
If this program is important to you, you are urged to fill out a non-binding statement documenting your business and its specific needs. You can find the Grow Sanford Business Survey form on the City's website here.  A work session will be held in early March to help businesses fill out statements of need. While this program is aimed at existing small business expansions, the city is also working on a separate program for small business start-ups.

Eligibility requirements for receiving assistance from the Grow Sanford program are as follows:

• The business is a for-profit business located in Sanford or Springvale that is current on all taxes, that is complaint with all zoning and permitting, that employs five or fewer employees at all times of the year and that ensures the expansion creates at least one job.

 --- OR ---

• The business is a for-profit business located in Sanford or Springvale that is current on all taxes, that is complaint with all zoning and permitting, that employs five or fewer employees at all times of the year and where all business owners meet low-moderate income guidelines.See guidelines below:

Number of Family Members:      Total Gross Income For Past 12 Months Must Be No More Than:
1      $38,450
2      $43,950
3        $49,450
     $54,900
5      $59,300
6      $63,700
     $68,100
8      $72,500

 

Grant funds may be used for the following eligible activities:

  • Equipment
  • Fixtures
  • Furniture
  • Improvements that will provide a measurable decrease in energy costs
  • Improvements to a building that enhance new equipment upgrades
  • Interior improvements
  • Inventory
  • Machinery
  • Product development
  • Technology

Grant funds may not be used for the following ineligible activities:

  • Direct advertising
  • Exterior improvements
  • Labor provided by the owner(s) for the project
  • Payment on/refinancing of existing debt
  • Payroll
  • Purchase of real estate
  • Reimbursement for expenses incurred prior to receiving a grant award from the City
  • Rent
  • ‘Working capital’

Read more about the Grow Sanford program in these articles from the Sanford News and the Weekly Observer.

For more information, please contact:
Lee Burnett
207.608.4171
207.206.2106