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September 20, 2017

Maine International Trade Center lands $195K grant for trade promotion

The U.S. Small Business Administration awarded a $195,000 grant award to Maine International Trade Center to support export growth among Maine small businesses. The funding was awarded through SBA's competitive State Trade Expansion Program.

The SBA’s STEP awards help small businesses expand their export-related activities, including participation in foreign trade missions, the design of international marketing campaigns, export trade show exhibits and export skills training workshops.

"For many Maine small businesses, exporting their products and services can be a very viable way to increase sales and create jobs," said Amy Bassett, SBA district director for Maine. "We are extremely pleased that the Maine International Trade Center will receive a STEP grant that will be used to help companies discover new paths to success."

Eligible Maine businesses may receive up to $10,500 in reimbursements through STEP financial assistance awards for costs associated with export-expansion activities. Guidelines and online application are found here.

"We're excited to be able to extend the important work of the STEP grant for another year," said MITC President Wade Merritt, who also serves as STEP project director at the Portland-based trade center. "In the past year, we supported 39 company projects in overseas markets, which resulted in over $22 million in new exports — a 150:1 return on SBA's investment of $145,000."

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