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BANGOR-MaineStream Finance, a subsidiary of Penquis Community Action Program, has been awarded $249,974 from the U.S. Small Business Administration.
The grant was made under the SBA’s PRIME program – Program for Investment in Microentrepreneurs – to offer training and technical assistance to low-income and very low-income entrepreneurs with small businesses of five employees or fewer in Penobscot and Piscataquis counties.
“The PRIME program was created to help the smallest of small businesses. These are entrepreneurs at the most basic stage of starting a business and who typically require the greatest amount of committed service and guidance,” SBA Administrator Hector V. Barreto said.
“In order to succeed, they require training and technical assistance that must be accessible.”
The U.S. Department of Commerce has estimated that more than 2 million businesses in the United States are operated by low-income and very low-income entrepreneurs.
MaineStream Finance provides one-on-one technical assistance and classroom training through the Incubator Without Walls program. For information, call Sally Clark at 973-3612.
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