Windham Economic Development Corporation extends Covid-19 Disaster Business Loan Program

The deadline to apply for a special disaster business loan program offered by the Windham Economic Development Corporation (WEDC) has been extended.

According to WEDC executive director Tom Bartell, the COVID-19 Disaster Business Loan Fund is designed to provide business continuation and recovery funds to existing Windham-based business to assist businesses through these times of economic hardship during the COVID-19 pandemic. Applicants can file for loans starting June 1 and the program will be available through the end of the pandemic.  

“WEDC recognizes the financial impact the COVID-19 pandemic is having and will continue to have on local businesses. We came together with a plan to help local business owners. Local business owners chose Windham as their community and now the community is here to help those businesses.

“I want to thank the Windham Economic Development Board for their hard work on putting this plan together,” he said. “We also want to thank the Windham Town Council and Barry Tibbetts, Town Manager, for providing additional funding for the COVID-19 Disaster Business Loan Fund.”

Bartell said that there are basically two types of COVID-19 Disaster Business Loans available, including a Business Continuation loan, and a Business Restart loan.

There is no minimum or maximum loan amounts and it is expected that the loan amounts will range from $5,000 to $20,000, Bartell said.

According to Bartell, the Business Continuation Loan is intended for existing businesses which have remained open during the pandemic, but whose operations have been reduced because of Federal, state, or local restrictions as a result of the pandemic.

He said that the Business Restart Loan is intended for applicants whose existing businesses which have ceased operations due to Federal, State, or local restrictions in reaction to the COVID-19 pandemic and have committed to restarting the business when the mandates are lifted.

For more information and to download the application, please go to www.WindhamMaine.us

The completed application and supporting documentation can be emailed to thbartell@windhammaine.us

“Again, our goal is to help Windham business owners with financial assistance to keep their business afloat. Whether you are a sole proprietor, partnership, LLC., or a corporation, please reach out if your business needs financial assistance,” Bartell said. <