They say the first year of a small business is the hardest, but for Allison Hopkins year 2 hasn’t been without its challenges as small business owners adapt to COVID-19. In January 2019 she worked with friends Paige and Mike Wilcox to open her own franchise of Wilcox Wellness & Fitness in Brunswick. All things considered, things were going really well. She certainly faced her fair share of challenges and difficulties but while working with Brad Swanson, a Maine Master Certified Business Advisor from the Maine SBDC at CEI, she met her sales goals and a profitable business was well within her sights. She had big plans for the upcoming year.
Blog
My-Fit-24 : Gorham
Stacey and Jesse Coleman own My-Fit-24, a 24-hour fitness facility located in Gorham, Maine. Started in 2007, My-Fit-24 provides access to fitness equipment, personal training, and group classes. The couple and their team are passionate about creating sustainable fitness solutions for their clients and community. Their programs are based on science to provide safe and effective workouts.
Round 2 of the Paycheck Protection Program
Select your status:
NEW, FIRST TIME PPP LOAN
SECOND DRAW PPP LOAN
IMPORTANT UPDATES & CHANGES – March 4th
Updated: 3/29/2021Read More
Local Relief for Maine Small Businesses
Prior to the pandemic, there were very few grant options available for small businesses. When the Covid pandemic was declared a national disaster, multiple rounds of federal and state grant funds were available to cover certain losses for existing businesses. Grant programs available for Covid-relief purposes are generally only available to those who can demonstrate pandemic-related loss and cannot be used to cover expenses already covered by other relief programs (PPP, EIDL Loan, etc). As we progress through the pandemic, there are fewer and fewer of these opportunities.Read More
What the New Stimulus Bill means for Small Businesses
1/7/2021
Help is on its way! We’ve highlighted what the new coronavirus relief bill might mean for your small business.
Please note: Updates to these programs are likely as details are finalized. Once passed, agencies may require some time to launch and implement these programs. As always, Maine SBDC will keep you posted as details unfold. Read More
CrossFit Black Bear – Orono
Lucas Roldan Rozas first came to a business advisor, Alison Lane, for help starting his own CrossFit business but was quickly discouraged by the significant costs involved with starting from scratch. Alison urged him to keep his eyes open for opportunities, since “crazy things can happen.” Within a week, a great opportunity presented itself when the CrossFit business the client worked for went up for sale. Lucas and Alison worked together to craft a business plan and financial projections and, within a few months, he had negotiated a Purchase and Sale Agreement and secured financing through the bank and the seller.Read More
Mountain Side Powersports – Wilton, Maine
Daniel Daigle dreamed of owning his own Powersports dealership. This is why he bought, remarketed, and opened Mountain Side Powersports in Wilton. Located near some of the best trails in Maine, this family-owned and run business will continue the long tradition of selling and servicing snowmobiles, ATV’s and UTV’s, snowblowers, and landscaping equipment.
After first being denied, Dan worked with his bank, Infinity Credit Union, and the Maine SBDC to make needed improvements. Working alongside Business Advisor Peter Harriman, Dan worked to re-analyze his original proposal, together they did more research, and dug deeper to really understand what was going to be involved and what it would take to make it work. The results – a business plan that Infinity Credit Union could trust and back with the loan approval.Read More
The PPP Dilemma: 24 vs 8 Weeks
By: Business Advisor Peter Harriman
Nothing is as confusing as when a newly rolled out program experiences the growing pains of change. Many business owners had just become comfortable with the 8-week PPP Covered Period when suddenly they were confronted with an unexpected twist – 24 weeks? Read More
Reflections on a Challenging Year
By: Brad Swanson, Business Advisor
For many small businesses, 2020 was a year that started with promise and great potential for continued growth and success. As we reflect on the year, it is very easy to get caught up in thoughts about the world health crisis that swept into our lives in March. In particular, the specter of COVID-19 has shocked and staggered our small business economy here in Maine. It is impossible to ignore the struggles that this pandemic has brought to so many. None of us has endured a time like this, where all aspects of our communities are so impacted, so challenged.Read More
COVID’s Impact on Maine’s Small Businesses
In August 2020, Maine SBDC partnered with Richard Arend from the University of Southern Maine to survey hundreds of Maine small business owners. The survey sought insight into how businesses have been impacted by the pandemic and the steps they have taken as a result.
Here’s our findings…Read More