Time and Tide Coffee Holds Grand Opening and Ribbon Cutting With U.S. Small Business Administration and Maine Small Business Development Center

Grand Opening Highlights Resources Available to Small Business Owners in Maine
Release Date: 
Thursday, December 20, 2018
Release Number: 
19-07D
Contact: 
Keith Lind

BIDDEFORD – Today, Amy Bassett, the U.S. Small Business Administration (SBA) Maine District Director, joined Time and Tide Coffee’s owners Briana Campbell and Jon Phillips, as well as representatives of Maine’s Senate delegation, the Maine Small Business Development Center (SBDC), Bangor Savings Bank, the Biddeford Saco Chamber of Commerce and the City of Biddeford for the grand opening and ribbon cutting of their business. The business utilized the business counseling services of Maine SBDC and obtained an SBA-backed loan through Bangor Savings in order to start up.

 

 “Businesses like Time and Tide Coffee provide great draws to their local downtowns,” said Amy Bassett, SBA’s Maine District Director. “We wish Briana and Jon much success and we are pleased that SBA programs and services were utilized to help them start and those programs will be there for them as they grow in the future,” Bassett added.

 

“The resources made available to us through the SBA and their partner programs were integral to us getting our business off the ground. We're very happy to be building our business in such a supportive community.” said Briana Campbell and Jon Phillips.

 

The Maine SBDC provides mentoring to business owners and aspiring entrepreneurs through their network of Certified Business Counselors, located in offices across the state. In 2017, the SBDC assisted a total of over 1,400 clients, helped 98 businesses start, assisted their clients in obtaining over $44 million in financing for their businesses, and helped their clients create or retain over 650 jobs in Maine.

 

The SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions. Through these partnerships, the SBA was able to help business owners in Maine access over $120 million for their businesses in Fiscal Year 2018.