Financial Resources for Businesses

Yarmouth Economic Development is here to help facilitate capital investment, job creation, business activity and property tax expansion by attracting prospective businesses and supporting the expansion and retention of existing local businesses.  Together with the Town of Yarmouth, its elected officials and staff, and available resources - our goal is to strengthen Yarmouth’s economic, community and cultural assets by identifying and securing funding for public infrastructure projects, business development and various projects.

Economic Development staff is knowledgeable of a variety of federal, state, local and private economic development resources.  Working together in a confidential assessment of a business' development needs, Yarmouth Economic Development is here to help guide businesses with their business plans, and to help identify resources to meet their business needs.  Resources range from funding, financing, and grants to business development research, business plan development and business counseling.  A list of available resources is provided below, with links to the resource websites.  Check our page regularly, as we update the site with new opportunities. 

2023 Domestic Trade Grant Program (Greater Portland Council of Governments)
The Department of Economic and Community Development (DECD) is launching a state-wide grant program to help Maine’s businesses sell more goods and services to locations within the United States, including Maine. Funding is limited to pandemic-impacted industries and for activities that are directly related to increasing access to markets and expanding sales activities. The funding will be delivered in two competitive rounds, one in October 2023 and another early in 2024. Click here for more information

Financial support is only available to the following industries negatively impacted by the COVID-19 pandemic: 

o Agriculture – food and beverage 
o Clean energy
o Construction
o Fishing, Seafood, and Aquaculture 
o Forestry and forest products
o Information services 
o Logistics, Transportation, and Warehousing 
o Manufacturing 
o Retail (includes wholesale)

*New* Business Recovery Grant (Greater Portland Council of Governments)

New pandemic relief funding is now available to small business and nonprofit organization owners in Cumberland County who started their business during the COVID-19 pandemic and have not received state or federal recovery funding to address economic impacts of the pandemic. Review the program guidelines here.

Grant amounts range between $5,000 and $20,000, depending on the size of the damages. There is a total of $500,000 available. We intend to award the grants in three segments: December 2023, March 2024, and June 2024. Qualified applicants who do not receive an award in the first round of funding remain eligible in the second and third rounds. Applications for this first round close December 15 at 11:59 p.m.

Eligibility Requirements:
o Must be a Maine-based business or nonprofit located in Cumberland County.
o Must have fewer than 250 employees. 
o Began operations after Jan. 1, 2020 and before May 11, 2023. 
o Suffered negative economic impacts due to COVID-19 and has not been reimbursed by any other state or federal pandemic relief program. 

Economic and Business Development Resources
Lending Resources
Grant Resources