The BDC works with Brunswick-based businesses and non-profits to provide loans which support job creation and new / expanded products & services.
A BDC business loan may range from $10,000 to $100,000, usually with a financial institution, such as a bank or credit union, as a partner.
The loans fund equipment purchases, leasehold improvements, construction and working capital. Depending on the use, the loan term can run from three to ten years, often with a balloon payment at the midpoint of the amortized schedule.
The BDC also offers small grants for non-profits who contribute significantly to the socio-economic benefit of the community. The BDC will support grant applications that increase services, provide new economic opportunities, enhance a unique asset or support a new or expanding effort in the community.
All grant requests must demonstrate a cash match of at least $1 for $1 requested. Requests are considered twice annually, with grant applications due on April 30th and October 31st.
HOW TO APPLY
An application can be obtained by visiting the Contact and Forms page, emailing firstname.lastname@example.org, or calling 207-721-4123 to request a grant or loan application. Please contact us prior to filling out the application. Grant applications, as noted above, are considered twice a year. Loan applications are on a rolling basis and will be considered at the BDC Board meeting closest to the time submitted. The BDC Board meets regularly in order to consider loan requests in a timely manner.