Loans & Grants

Resources

Coastal Enterprises, Inc. Microloan Program

This program provides loans of up to $25,000 to existing and start-up businesses. Read more about the Coastal Enterprises, Inc. Microloan Program.

Community Development Block Grant Economic Development Program

This program provides gap financing to businesses in the form of grants in exchange for quality job creation. The funds can be used for non-capital equipment, land and site improvements, rehabilitation or construction of commercial or industrial buildings, and/or working capital and capital equipment. Read more about the Community Development Block Grant Economic Development Program (PDF).

Eastern Maine Development Corporation

Eastern Maine Development Corporation has a number of loan programs to assist businesses. Read more about Eastern Maine Development Corporation's loan programs.

Knox County Regional Microloan Program (Belfast is eligible under this program)

Businesses located in Belfast that are creating or retaining jobs can obtain loans of up to $25,000. Loans can be used for real property acquisition, capital equipment and fixtures, building construction and/or rehabilitation, on-site utilities, inventories and supplies, leaseholder improvements, working capital, and relocation of persons and/or businesses as a result of property acquisition or facility expansion. Read more about the Knox County Regional Microloan Program (PDF).

Loan Guarantees/Loan Insurance

Loan guarantee and loan insurance programs, offered through multiple agencies, can help a business secure financing more easily and at more attractive rates. A private lending institution must still be involved in the transaction. Loan guarantees/loan insurance is provided by the Finance Authority of Maine, the Small Business Administration, and the United States Department of Agriculture Office of Rural Development.

Maine Rural Development Authority Community Facilities Development Program

This program provides loans of up to $500,000 at attractive rates for the development of new commercial facilities, or the acquisition and redevelopment of nonproductive commercial facilities for subsequent return to productive use. Read more about the Maine Rural Development Authority Community Facilities Development Program.

MaineStream Finance Business Lending

This program provides loans of up to $200,000 to businesses, that can be used for inventory, equipment, computers, real estate, upgrading existing equipment, and building renovations and improvements. Read more about MaineStream Finance Business Lending.

Maine Venture Fund

This program is a professionally managed venture capital fund that invests exclusively in Maine companies that demonstrate a potential for significant growth and public benefit. Read more about the Maine Venture Fund.