© 2024 Maine Public | Registered 501(c)(3) EIN: 22-3171529
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Scroll down to see all available streams.

Maine Gets More Biz Money from Feds

AUGUSTA, Maine (AP) _ Maine is getting an additional $4.3 million in federal funding to help grow small businesses.

    The Department of Economic and Community Development says that the state secured the funding from the U.S. Treasury Department's Small State Business Credit Initiative. 

    Republican Gov. Paul LePage says the money will allow small businesses to leverage new capital and create jobs.

    Maine received $13.2 million through the program in 2011. It's gotten another $4 million through loan programs, economic development agencies and other initiatives. Officials say that the federal funds have allowed small businesses to leverage $36 million in private financing.