City of Saco Small Business Grant Program

The City of Saco, Maine, through its Economic Development Department, administers a Small Business Grant Program aimed at bolstering economic development and revitalizing local communities. This city-wide initiative is designed to provide matching funds to small businesses within Saco for a variety of non-operational expenses. The program is an ongoing effort that continues as funding allows and seeks to support as many qualified projects as possible within the limits of available resources. The program offers grants of up to $15,000 per applicant, based on a 75:25 matching ratio. This means that a project valued at $60,000 or more would be eligible for the full $15,000 award. Grants are disbursed as reimbursements—either for the awarded amount or 25% of the total project cost, whichever is lower—upon project completion. Importantly, any project started before official award notification is ineligible for reimbursement. All projects must be completed within one year of receiving grant approval. Eligibility is restricted to commercial uses within Saco city limits employing 50 or fewer people. Both property owners and tenants are eligible to apply; however, tenant applicants must obtain signed approval from the property owner. The grant can be applied to qualifying expenses such as interior and exterior renovations, business signage, furniture, fixtures, equipment, relocation expenses, and professional services like marketing, engineering, architectural fees, and permitting costs. Certain expenditures are explicitly excluded, including real estate purchases, debt refinancing, and payment for self-labor. Applications are reviewed on a rolling basis and evaluated monthly by a four-member Grant Selection Committee composed of representatives from the Economic Development Department, Economic Development Commission, Biddeford and Saco Chamber of Commerce, and the Southern Maine Finance Agency. To be considered for funding, applicants must meet minimum evaluation thresholds, including a 75% score based on criteria such as project impact, sustainability, and community contribution. Applications that meet these requirements but cannot be funded immediately due to exhausted resources may be placed on a waiting list. Final approval is contingent upon the submission of financial documents including the prior year’s financial reports, a detailed project budget, proof of liability insurance, and completed forms such as a W9 and vendor registration. Following successful project completion and inspection by the City, reimbursement will be issued within one month. If a business receiving funds closes within three years, partial repayment is required on a graduated scale: 40% within the first year, 30% within two years, and 20% within three years. Interested applicants must submit completed applications directly to Jessa Berna, Economic Development Specialist, via email. As the program is rolling, there is no fixed deadline, and applications will be accepted as long as funding is available. For additional details or to begin the application process, businesses should reach out to the City of Saco’s Economic Development Department.