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)
" The new MTI Investment Process is more fluid than it was before. Clients may apply for funds at any time and we no longer have fixed programs with specific deadlines. Our goal is to provide more tailored support, more customer-centric service, and to maximize MTI’s impact in Maine. MTI offers grants, loans, equity investments, and services to businesses, organizations, and individuals that work within one or more of the seven targeted technology sectors or in building support systems for innovation in Maine" An initial intake form can be found on their website.
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 $200,000, available for new business start-up or to expand an existing small business. They also provide business classes and business advising.
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.
Maine Accelerates Growth Program – "MxG will provide financial support for projects, events and programs that
focus on the growth of entrepreneurial and innovative companies,
communities and talent (people). Initially funding will be awarded in two
areas: 1. Programs and events that support increasing Maine companies’ access
to talent, capital and/or markets; and/or 2. Programs and events that build the community of entrepreneurs and
culture of innovation in Maine. MxG awards can range from $500 to $50,000" See website for application.
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.
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.