CEI Targeted Loan Programs (Coastal Enterprises, Inc.)
Offers information about loans for:
These loans are directly administered by Finance Authority of Maine, often in conjunction with partner agencies, such as the Maine Department of Agriculture, Conservation and Forestry; the Maine Rural Development Authority; and the Kim Wallace Adaptive Equipment Loan Program board. FAME can help navigate alternative financing options or supplement your existing financing.
MTI Development Loan (Maine Technology Institute)
Development Loans of up to $500,000 are offered three times per year for research and development purposes similar to MTI’s Seed Grant. Unlike Seed Grants, Development Loans allow the applicant to include some sales, marketing and indirect/overhead costs as part of the project funding request.
CDBG Program assists units of local government in various community projects in areas ranging from infrastructure, housing, downtown revitalization to public facilities and economic development. The Economic Development Program provides gap funding in the form of grants and loans for communities to assist businesses in the creation/retention of jobs. Apply through local economic development councils/commissions.
Small Business Loans up to $50,000, available for new business start-up or to expand an existing small business.
Provide loans to existing Maine businesses and Start-up ventures from $5,000 to $500,000. Qualified uses of funds include: inventory & equipment, working capital, real estate acquisition, leasehold improvements, lines of credit and business acquisitions.
Regional Economic Development Revolving Loan Programs
Eastern Maine (Hancock, Penobscot, Piscataquis Counties as well as portions of Waldo County)
Androscoggin, Franklin, Oxford Counties
Biddeford-Saco Area, York, Cumberland Counties
Kennebec, Somerset, Western Waldo County
Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs coordinated by SBA.
For small business applying SBIR or STTR program, more assistance and acceleration programs are available from Maine Technology Institute (MTI):
MTI Technical Assistance Program - Support from an experienced team of consultants providing start to finish guidance and advice to assist in the preparation of Federal R&D funding proposals including the SBIR/STTR Program.
MTI Phase 0 KickStarter - $5000 intended to be used to obtain additional external resources required to assist in the preparation of Federal R&D funding proposals including SBIR/STTR awards.
MTI Business Accelerator Program – Up to $50,000 intended for companies who have received Federal R&D funding, including SBIR/STTR awards, to support commercialization and business development capacity-building activities that are required to advance a new technology to market.
MTI TechStart Grant
Up to $5,000 to support entrepreneurs/companies across Maine who are looking to develop their new ideas and new products.
MTI Seed Grant
Up to $25,000 to support entrepreneurs/companies engaging in research and development activities leading to commercialization or follow-on funding.
Maine Accelerates Growth (MxG) Funding
$500-50,000 awards for projects, events and programs that focus on the growth of entrepreneurial and innovative companies, communities and human talent.
Grant/Match Programs (Portland)
Libra Future Fund
Youth grant program grants up to $5,000 to individuals, to promote economic development or create job opportunities in Maine.
Marketing Mini-Grants: Downtown Dollars (New Ventures Maine)
Cash mini-grants (up to $400) to micro-enterprises for marketing projects via a competitive process.
Recorded Webinars from SBA & SCORE:
Contact Maine Financial Institutions to verify their business loan programs
Compare with institutions outside of Maine, search the National Financial Institution Directory.
Commercial Loan Insurance (FAME)
New England Angel Investors:
For more Angel investors, check out Angel Capital Association (ACA) Member Directory
Find more venture capital firms from the Directory of Venture Capital Firms, Angel Investors.
5729 Fogler Library · University of Maine · Orono, ME 04469-5729 ; (207) 581-1673