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The original item was published from 5/10/2023 11:00:22 AM to 6/24/2023 12:00:03 AM.

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Posted on: May 10, 2023

[ARCHIVED] THRIVE Maine Forgiveable Loans Round 2

Thrive Maine second application cycle is scheduled to open on May 23, 2023.

FAME is proud to administer Thrive Maine, a $58 million forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts of more than $10,000. The program aims to further strengthen the Maine economy through impactful investments in the future. 

The first application cycle took place in October 2022, with $29 million in forgivable loans allocated to Maine small businesses. 

The second application cycle will be significantly different than the first. Below are some key changes:

  • NOT first-come, first-served - this will be a competitive process with all applications scored. The applications with the highest scores will be funded.
  • Thrive Maine will fund future plans for organizational improvement and growth, not just replenish past COVID-related negative economic impacts like the first round.
  • Priority will be made for businesses and projects in the construction, manufacturing, and science and technology industries, but all industries may apply. 
  • Recipients of forgivable loans from the first cycle are NOT eligible to apply.
  • The application portal is scheduled to close on June 23, 2023.

More details can be found on our website, FAMEmaine.com/Thrive.


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