The Business Recovery and Resilience Fund, established by the Maine Department of Economic & Community Development (DECD), provides financial support to businesses and nonprofit organizations affected by severe storms on December 18, 2023, January 10, 2024, and January 13, 2024. This $10 million program focuses on recovery efforts and projects that enhance resilience against future climate events. The grants are not intended to replace lost revenue but to help ensure the continued viability of businesses and organizations through rebuilding and proactive infrastructure improvements.

Eligible applicants include businesses and nonprofit organizations with significant operations in Maine. Specific exclusions apply, such as 501(c)(4) organizations, schools, government entities, and others detailed in the program guidelines. To qualify, applicants must be current with Maine State taxes, in good standing with relevant state agencies, not in bankruptcy, and actively operating. Additionally, applicants must demonstrate that damages or project costs are not covered by other funding sources, such as FEMA disaster relief or insurance, and must provide a 1:1 match for the grant award.

Grant awards range from $2,500 to $100,000, with eligible expenses including building and facility repairs, infrastructure upgrades, relocating businesses to safer locations, and adding resilience measures such as improved drainage systems or additional insurance coverage. Ineligible expenses include lobbying, personal-use goods, entertainment, and depreciation costs. Successful applicants will be required to submit before-and-after photos of their projects, allow site inspections, and provide documentation to ensure funds are used appropriately.

Applications are accepted between May 16, 2024, and June 25, 2024, through an online portal. Applications will be evaluated competitively based on criteria such as the viability of the organization, the ability to match funds, and the strength of the recovery and resilience plan. This program is not first-come, first-served, so applicants are encouraged to submit thoughtful, comprehensive proposals.

Grantees must adhere to reporting requirements, including demonstrating compliance with guidelines and submitting documentation of fund use. The awarded funds are taxable and subject to audit. This fund provides an excellent opportunity for businesses and nonprofits to recover from past weather events and prepare for future challenges. For assistance, applicants can contact Business Answers at 1-800-872-3838 or email BizAwards.DECD@maine.gov.