Doing Business in Old Town: News

Jun 9, 2018

Old Town has Loan Programs available to assist businesses


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 and the Penobscot Federal Credit Union. Application may begin by contacting the lender directly or by contacting: Ron Harriman (Economic Development Director): 207-947-8595.

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 and the Penobscot Federal Credit Union.

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.

Business Equipment Loan Program

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:

Ron Harriman

Economic Development Director

207-947-8595