About the program
About the program
Thrive Maine second application cycle is open now through June 23, 2023. Please visit FAMEmaine.com/thrive for more details.
Administered by the Finance Authority of Maine (FAME), Thrive Maine is a forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts. Thrive Maine aims to further strengthen the Maine economy through impactful investments in the future. Forgivable loans will be awarded to those with strategic, forward-looking plans that will strengthen businesses, increase jobs, and lift the Maine economy.
The first application cycle occurred in October 2022, awarding $29 million in forgivable loans to Maine businesses. The second application cycle opened on May 23 and closes on June 23. The second application cycle is competitive and applications will be scored, NOT first-come, first-served. Applicants with the highest scores will be awarded a forgivable loan.
Application Process
Application Process
STEP 1: Compile the following documents and information:
- Two forms of ID
- First ID Document (one of these required): Passport, Drivers License, ID Card, US Military ID, US Military Dependent ID.
- Second ID document (one of these required): Passport, Birth Certificate, US Citizen ID Card, Card for use of Resident Citizen in the United States (Form 1-179), Certification of Birth Abroad issued by the Department of State (Form FS-545 or Form DS-1350), Native American tribal document.
- Income Statement or Profit and Loss Statement for 2019, 2020, 2021, and 2022 (Sole Proprietors may provide federal tax filings for 2019, 2020, 2021, and 2022 instead), and 2019-2022 Federal Income Tax Returns.
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Year to Date Income State or Profit and Loss Statement and Current Balance Sheet (Sole Proprietors may provide confirmation of available cash reserves instead).
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Federal UEI number. The UEI is a 12-character unique number assigned to all entities (public and private companies, individuals, institutions, or organizations) who must register to do business with the federal government. If you do not have a UEI number, register for one here.
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Bank Routing Number, Account Number, and Account Type (UEI ownership required to match name on bank account)
STEP 2: Develop strategic organizational plan and write impact statement.
Please note, you must include how you plan to spend the loan amount requested before December 31, 2024.