We couple innovative individuals with money from the federal government to generate jobs and tax revenue for our communities.
The Community Development Block Grant (CDBG) program is a federally funded grant program that was established by the Housing and Community Development Act (HCDA) of 1974. Great Northern Services administers the CDBG funds for local jurisdictions that have received awards. The city of Montague currently have funding for Economic Development. If you are not located in either town, consider applying for an RMAP Loan.
There are three components to CDBG Economic Development: Business assistance, microenterprise assistance, and grants.
- Business assistance loan applicants may borrow up to $200K and are required to increase their employment levels.
- Microenterprise assistance loan applicants may borrow a maximum of $50K with no increase in their employment levels, however, the business must have fewer than 5 employees (including the owner) and the owner must income-qualify.
- Grants of up to $10K are available to eligible existing microenterprise businesses to cover soft costs (utilities, rent, software, website development, marketing materials, etc.).
For information regarding the terms and conditions of loans and grants, please fill out the contact form below or call 938-4115 ext 115.
Community Development Manager, Brandy Caporaso, 938-4115 ext 115