PRIME Phase 2 is targeted to small businesses across Maine that work in, use, or leverage solutions connected to our state’s technology sectors. Please be sure that your company is strongly affiliated with one of the 7 technology sectors and that your application meets all the guidelines as outlined in these instructions. MTI’s PRIME Fund presents a unique opportunity to help businesses in Maine invest in new customers, new business lines, and other innovations that will strengthen their resilience and ability to thrive moving forward.
When Are Applications Due?
The application portal for Phase 2 will close at midnight on August 30, 2024.
Who Should Apply?
Am I Eligible for PRIME Funding Phase 2?
Your business may be considered eligible for a PRIME Fund grant award if:
- Your business has a significant presence in Maine (50% of employees in Maine).
- Your business is strongly aligned with one of the 7 technology sectors approved by the Maine State Legislature (see preface for a link to 7 sector definition).
- You can clearly articulate in the application the damage caused by the COVID pandemic in terms of business delays, revenue growth delays in project starts or lost opportunities.
- Your project or plan can be completed with all grant award funding used by June of 2026. The project timing reflected in your application narrative will need to be consistent with that date.
- Your business is registered with the Maine Secretary of State’s corporate registry. If you are a Sole Proprietor and not registered with the Secretary of State, you can use alternate methods:
- Upload a copy of last year’s 1040 and Schedule C for your federal income tax
- Provide self-certification that you are an engaged proprietor of this business
- You can demonstrate a clear plan to utilize the PRIME 2 Funds to directly address the negative economic impacts of the COVID-19 pandemic, suffered by your Maine business. This can include projects and new business development plans that improve the stability and long-term health of your business.
- Your company has fewer than 250 full time employees.
- Your business has cash or other resources available to provide a financial match for your requested PRIME 2 Funds.
- You are able and willing to comply with annual reporting requirements.
- Your company has a Unique Entity Identification (UEI) number. For more information about UEI numbers and how to obtain one for free, see our FAQs or click here.
How Much Funding Can I Request And How Will The Applications Be Scored?
After the application deadline, your application will be evaluated by a panel of experienced reviewers against our funding guidelines to assess eligibility, quality and award amounts. Our experience with administering other ARPA programs would indicate that we normally receive grant requests far in excess of the funding amount available. Consequently, each application will be scored by the reviewers against a matrix and awards will be made to the highest quality/highest scoring applications. The following is a scoring rubric indicating the relative value assigned to each component of the review process:
Assume a maximum score of approximately 100 points
- 40 points on quality of the proposed project to achieve stability after the pandemic and foster company growth
- 10 points if company is female or minority led
- 10 points if located in a disadvantaged area of the state as defined by the 2020 census and economic data provided by the state
- 20 points awarded to companies that are new to MTI (companies that have not received prior MTI funding)
- 10 points for cash match that exceed 1:1 (scaled based on amount over 1:1)
- 10 points for depth and experience of leadership team
Please be aware that if the program is severely oversubscribed, the successful applicants may be offered a grant amount less than what was requested in the application. If this amount is insufficient to implement the project/plan as outlined in the application, the awardee can refuse to accept the grant and will have no future reporting obligations. If the smaller award amount is accepted, the expectations and the executed MTI contract will stipulate that the project as outlined in the application will proceed according to the schedule in the application and the awardee will be required to report on progress and impact over the next 5 years (annual 15-minute survey sent by MTI).
The maximum award amount will be $250,000. Regardless of the grant amount requested, you will be required to provide a 1:1 financial match in either in-kind or cash contributions. Below is an estimated range of award sizes and the maximum amount of in-kind matching contributions allowed, determined by the number of Maine-based full-time employees.
| Company Size (FTEs) | Maximum Amount of In-Kind Allowed |
|---|---|
| 1-15 | 25% |
| 16- 30 | 15% |
| >30 | 0% |
If the available cash as shown on the balance sheet submitted with the application does not show sufficient match for the amount requested, please address how the shortfall will be remedied by the time of the grant award.
What Can I Use PRIME Funds For?
Funds must be used to implement your plan and directly address the negative impacts of the COVID-19 pandemic and your plan to build a more resilient business model.
Suggested expenses may include but are not limited to:
- Job retention and creation such as payroll costs and expenses for existing or new hires.
- Rent or mortgage payments for business facilities (unless otherwise waived by lessor/lender).
- Utilities payments.
- Purchase of personal protective equipment (PPE) required by the business.
- Business-related equipment purchases.
- Start-up costs for new programs, products and/or new markets which may require some initial investment.
- Replenishing inventory or other necessary operating expenses.
These funds must be applied to operations that are strictly within Maine. These grant funds are subject to audit and are generally considered to be reportable income, therefore they should be included with reportable income at tax time.
How Do I Apply For PRIME Funding Phase 2?
Step 1-Complete your paperwork
Use the Application Word Document to provide all the information requested. Download the Application Word Document, answer all the questions, then save the file for future upload into the Online Application Portal
If you cannot access the Application Word Document, here is a PDF version of the Application Document. You can complete your responses in your preferred file format, to be uploaded into the Online Application Portal.
You must also compile electronic files for all the required documents in our checklist below.
Application Checklist
Before you access MTI’s Online Application Portal, you will need the following documents ready for upload.
- Signed and dated W-9 Form (Access a blank W-9 Form HERE)
- Current Balance Sheet (Sole Proprietors may provide an alternative statement of available funds)
- Income Statement (or Profit and Loss Statement) for 2022, 2023 and YTD 2024. If your business was not in operation in all those years, please note in your application comments.
- Sole Proprietors may provide federal tax filings for 2022, 2023 and YTD 2024 as an alternative to Income Statements
- The federal government requires companies doing business with the government or receiving grants to have a Unique Entity Identification (UEI) number. To learn more about a UEI number and how to obtain one at no cost, click here.
- Signed and dated PRIME Grant Application Agreement (Access a blank Grant Application Agreement HERE)
Helpful Hint: Combining Photos or Scanned Documents into Electronic Files
Before you upload documents to MTI’s Online Application Portal, you may first need to scan the paper copy of your required document. If you can only scan one page at a time you will need to combine those pages into one electronic file.
For example, if you do not have an electronic version of your 2021 tax return, but you have a paper version instead, you can scan the paper version to create an electronic file to be uploaded to the online system.
Step 2-Submit your application and supporting documents online
Once you have completed your Application Word Document and compiled all required financial documents in the checklist above, you must submit your information through MTI’s Online Application Portal, which requires you create an MTI online account with a valid email address.
In addition to the documents you have gathered, the MTI’s Online Application Portal will require that you enter specific basic data regarding your business and your proposed pandemic response plan. After entering this basic data, you will be prompted to upload all required electronic files.
We estimate that you will need at least 30 minutes to complete the online application process after completing the Application Word document. You are able to start your application and save it and return to finish it later (prior to the deadline!). When you “save” the file, a message will be sent to you indicating the file has been SAVED not submitted. Please do not forget to finish and SUBMIT the application before the August 30th deadline.
Have you completed Step 1 and compiled your electronic documents? Click the button below to create your account and begin the online application process.
What If I Need Help With My Application?
MTI offers a number of resources to assist you with the application process.
Frequently Asked Questions
For answers to questions others have asked, click here to find our FAQs.
Language Selection
You can switch the language of this page by clicking the flag in the bottom right.
Zoom Meetings
MTI will host four Zoom sessions throughout July and August to answer specific questions about the PRIME 2 Fund application. Click here to access and sign up for the scheduled sessions.
Connect with MTI
For further guidance please email us at [email protected]. We try to respond to all emails within 1 business day.
What Happens After I Apply?
You should receive a confirmation email shortly after your application has been submitted.
If you receive an email notifying you that your application has been saved, it does not mean your application was submitted. Saving your application allows you to return to it later if you need to make changes. However, saving is not the same as submitting.
Please be sure to click the Submit Button after all the steps have been completed.
We expect that the review process will take several weeks, and we anticipate making the award announcements in October. You will be informed via email as to whether or not you have received a grant and the amount of the grant.
If you receive a PRIME 2 Fund award, MTI will verify that we have all the documentation needed to comply with state and federal guidelines. Along with the award notification we will include a short contract (2 pages) that essentially commits that the money will be used for the project outlined in the application only and that you will comply with all reporting requests from MTI. Once that contract is returned, we can arrange for payment.
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