Façade Improvement Funds for Biddeford Small Businesses

    downtown biddeford

    New 0% Interest Loan Funds Now Available for Downtown Facade Improvements!

    Main Street America (MSA), Maine Downtown Center (MDC), and the Heart of Biddeford are pleased to offer the Maine Historic Commercial District Revolving Fund, made possible through generous support from The 1772 Foundation, Inc. Over the next three years, the Maine Historic Commercial District Revolving Fund will provide 0% interest loans to Biddeford business/building owners.

    Who can apply for loans?
    Business owners and/or tenants of existing buildings within the defined Main Street district boundaries in Biddeford.

    In Brief: How the Program Works

    • 0% interest loans available for façade improvement projects.
    • Loans are repayable over three years on a monthly basis.
    • $25,000 loan maximum per project. $4,000 loan minimum preferred.
    • Match requirement: No match required at this time.
    • Interested borrowers will submit a loan application form detailing their project and their match sources, which
      will be reviewed on a first-come, first-served basis.
    • Annually, loan recipients will be required to report predetermined metrics to MSA.
    • Borrower financial information will not be shared with will not be shared with MDC or Heart of Biddeford

    What projects are eligible for loans?

    • All loans must be used towards exterior rehabilitation/improvement of existing commercial or mixed-use
      buildings within the Main Street district in the City of Biddeford. (See below for addition)
    • Eligible projects include, but are not necessarily limited to awnings, roof, canopies, storefronts, doors, paint, landscaping, exterior lighting, window repair, masonry work etc.

    NEW: Funds for COVID-19 related projects may be used for any of the following:

    • Signage for space management related to COVID-19
      • Examples: signage delineating social distancing requirements or curbside pick-up
    • Materials, equipment, and labor to help create additional space adjacent to commercial buildings o Examples: outdoor seating apparatus, parklets + pedlets, or sanitation stations
    • Equipment for interior space management related to COVID-19 o Example: plexiglass stands at points-of-sale

    2021 Maine Revolving Fund Flyer