PURPOSE
Entrepreneurship is a key component of economic empowerment. We leverage local and regional experts and economic development initiatives to facilitate technical support, mentoring, access to capital and know-how for immigrant-led businesses. The Business Hub was created to help immigrants understand, navigate and thrive as an integral part of the Maine business community. We are building programs to support the development and success of new and established immigrant-owned businesses and offer seminars with experts from different business professions, access to co-working space and other IWCs resources, and the opportunity to connect with the others in the business community.
CONTACT US
The Indus Fund
The Greater Portland Immigrant Welcome Center is proud to partner with the Indus Fund, a micro-loan fund dedicated to New Mainers looking to create a life for themselves and their families, catalyze their businesses, build credit and banking history, and help grow the Maine economy. The Indus Fund is the brainchild of founder and managing partner Kerem Durdag. cPort Credit Union administers the micro-loans, with applications available in both English and French. Additionally, cPort has teamed up with the translation phone service Certified Languages, Inc. to help guide applicants through cPort-related process.
Loans can be made to individuals or businesses for amounts between $500-$10,000. The maximum loan term can be up to 5 years and the interest rate is fixed at 3.5%. Applicants will be offered mentorship during the loan process; research has proven that entrepreneurs and small businesses that engage with a mentor are much more likely to succeed and to demonstrate profitability sooner. For information on becoming a mentor please reach out to indus.mentorship@gmail.com.
Zero Interest Loans
The Greater Portland Immigrant Welcome Center joined the DreamxAmerica’s partnership with Kiva U.S., the DxA-Kiva Special Initiative to connect small immigrant- owned businesses throughout the United States with zero-interest, zero-fee loans. As a result of this partnership, we connected over 45 immigrant business owners in the Greater Portland area to apply for the zero-interest, zero-fee loans. DreamxAmerica was launched at the Harvard Innovation Labs and is now based at Stanford University. Its co-founders were named to the Forbes 30 Under 30 list, and it was recognized on Fast Company's 2021 World Changing Ideas List.