Northern maine development commission Review

About Northern maine development commission

Northern Maine Development Commission: Empowering Businesses to Succeed

Are you an entrepreneur looking to start a business in Northern Maine? Or are you an existing business owner seeking financial assistance or guidance on how to grow your enterprise? Look no further than the Northern Maine Development Commission (NMDC).

NMDC is a non-profit organization that has been serving Aroostook County and the surrounding areas since 1967. Its mission is to promote economic development, job creation, and community revitalization in Northern Maine. Over the years, NMDC has helped countless businesses achieve their goals by providing them with a wide range of services and resources.

Starting a Business with NMDC

Starting a new business can be daunting, especially if you're not familiar with the local market or regulations. That's where NMDC comes in. The organization offers free counseling services for entrepreneurs who want to start their own businesses. Whether you need help developing your business plan, finding funding sources, or navigating legal requirements, NMDC's experienced counselors can guide you through every step of the process.

In addition to counseling services, NMDC also provides training programs for aspiring entrepreneurs. These programs cover topics such as marketing strategies, financial management, and customer service skills. By participating in these programs, entrepreneurs can gain valuable knowledge and skills that will help them succeed in their ventures.

Financing Your Business with NMDC

One of the biggest challenges facing small businesses is securing financing. Banks and other traditional lenders may be hesitant to lend money to new or small enterprises due to perceived risks. However, NMDC offers several financing options that are specifically designed for small businesses.

One such option is the Revolving Loan Fund (RLF), which provides low-interest loans ranging from $5,000 up to $250,000 for eligible projects within Aroostook County and parts of Washington County. The RLF can be used for working capital needs such as inventory purchases or equipment upgrades; real estate acquisition; construction; renovation; leasehold improvements; energy efficiency upgrades; technology investments; marketing expenses; professional fees related directly related project costs.

Another financing option available through NMDC is its Micro-Enterprise Assistance Program (MEAP). This program provides loans ranging from $500 up $50k at competitive interest rates along with technical assistance support including training opportunities on topics like bookkeeping software usage & social media marketing strategies among others! MEAP funds may be used towards working capital needs like inventory purchases or equipment upgrades as well as other eligible project costs like website design & development!

Growing Your Business with NMDC

Once your business is up and running successfully it’s time think about growth opportunities! Whether it’s expanding into new markets or adding new products/services lines – there are many ways that businesses can grow over time! And when it comes time for growth planning - look no further than Northern Maine Development Commission!

NMCD offers various resources designed specifically around helping established companies expand operations within Aroostook County region including access funding sources via grants/loans offered by state/federal agencies along w/technical assistance support provided by our team members who have experience working w/businesses across different industries!

Conclusion:

In conclusion,Northern Maine Development Commission has been empowering local businesses since 1967 by providing them with comprehensive support services tailored towards meeting their unique needs! From starting out fresh ideas all way through growing established companies - we’re here every step along journey towards success! So if you’re looking take next steps forward w/your entrepreneurial dreams then contact us today learn more about how we can help make those dreams reality!