The City of Old Town has created two loan programs to promote new and existing businesses within the City. Both programs are in partnership with Camden National Bank. Applicants may begin by contacting the lender directly or by contacting: EJ Roach (Economic Development Director): 207-827-3965 x204.
Business Loan Program
Loans with favorable rates are available to qualifying applicants. The goal of the program is to assist the establishment, expansion or improvement to new and existing businesses. Applicant may be a startup or an existing business. The general purpose of the program is to create or retain existing jobs within the City. Favorable rates are available to qualifying applicants and the maximum loan amount is $50,000.
This program assists qualifying businesses with an interest rate reduction for the purchase of new equipment. Borrowers must meet all of lender’s eligibility requirements. A single business or applicant may receive up to $5,000 in interest subsidy. Subsidy is available for up to three years. Application may begin by contacting the lender directly or by contacting:
Economic Development Director