Business Funding Resources

Grants

Franklin County TIF – The Franklin County Tax Increment Financing (TIF) District provides public assistance to the Kibby Wind Power Project and created an economic development plan for Unorganized Townships (UTs) in Franklin County. As part of the economic development plan, a portion of the funds obtained from this district are put towards two funding programs: grants for projects in UTs and a revolving loan fund. 

Maine Technology Institute (MTI) – Funding to support new investments in equipment, engineering, or tooling necessary to pursue a new and innovative product or market.

Coworking Development Fund and Program – Support for coworking spaces throughout Maine.

Efficiency Maine Commercial and Industrial (C&I) Prescriptive Incentive Program – Fixed incentives for manufacturing and industrial facilities to reduce the cost of projects that help businesses use energy more efficiently.

ConnectMaine Broadband Grants – Community Planning and Infrastructure grants to expand broadband access in unserved parts of the state.

U.S. Economic Development Administration Public Works and Economic Adjustment Assistance Programs – Funding for economically distressed communities and regions to address a wide variety of economic needs. Municipalities and other non-profit organizations are eligible, for-profit businesses are not.

Community Development Block Grant Program (CDBG) – Provides funding to local governments to meet one of three national objectives: benefit to low- and moderate-income persons; prevention and elimination of slum and blight conditions; and meeting community development needs having a particular urgency. 

Rural Manufacturing and Industrial Site Redevelopment Program – Grant funding that can support technical assistance or any planning or implementation related to the rehabilitation, revitalization, and marketing of manufacturing and industrial sites in rural communities.

Land and Water Conservation Fund (LWCF) – Funding for up to 50% of the allowable costs for approved acquisition or development projects for public outdoor recreation.

U.S. Department of Transportation’s Recreational Trails Program (RTP) – Funding to develop and maintain recreational trails and trail-related facilities for motorized and non-motorized uses. Only available to governments and non-profit entities.

Market Access Program (MAP) – U.S. Foreign Agricultural Service program to share the costs of overseas marketing and promotional activities to build commercial export markets. 

State Trade Expansion Program (STEP) – Funding to support Maine companies seeking new international sales. SBA grant administered by MITC.

Agricultural Development Grant (ADG) – Provides cost-share grants to conduct market promotion, market R&D, value-added processing, and new technology demonstration projects.

USDA Specialty Crop Block Grant Program (SCBG) – Federal program that funds market research, market promotion, and new technology projects specifically to benefit specialty crop producers. 

Tastemakers Initiative – CEI – CEI’s Tastemakers Initiative provides funding to Maine food and beverage companies. Funding may be available to help your business pursue a strategic growth opportunity, facility design improvements, supply chain planning, and more.

Business Loans

U.S. Small Business Administration (SBA) Guaranteed Loans – Lender Match tool. The SBA backs these loans, sharing the risk with lenders and making it easier for you to get a loan to start or grow your small business.

SBA Microloans – Microloans of up to $50,000 for small businesses. Technical assistance provided for the life of the loan.

SBA Disaster Assistance Loans – Low-interest loans to help businesses recover from declared disasters, including the COVID-19 pandemic and natural disasters like hurricanes.

AVCOG Business Financing ProgramsAVCOG provides financing assistance for start-ups, expansions and modernizations. In addition to direct loan programs, AVCOG also provides assistance to businesses in accessing other local and state sources of financing.

MaineStream Finance Small Business Loans – Loans ranging from $500-$200,000 are available for small businesses throughout Maine that may have trouble finding credit.

Brownfields Revolving Loan Fund (BRLF) – Loan funding is available to help with the costs of redeveloping brownfields into productive properties.

FAME Direct Loan – Available to Maine businesses that have exhausted traditional funding sources. Usually less than $500,000 but can be more if planned investments demonstrate substantial public benefit.

Linked Investment Program for Commercial Enterprises – This program, for nonagricultural Maine small businesses, helps make loans more affordable by reducing your borrower’s interest rate by up to 2%.

Agricultural Marketing Loan Fund (AMLF) – Low-cost financing to help farmers, food processors, and aquaculture operators adopt new and innovative equipment and facilities in order to improve and enhance the manufacturing, marketability, and production of Maine products. Maximum loan: $250,000.

Compliance Assistance Loan Program – Helps businesses finance the renovation, removal, disposal, or replacement of all or any part of certain oil storage facilities or tanks and certain air quality improvement equipment. Maximum loan: $400,000.

Nutrient Management Program – Helps farms and other agricultural businesses fund nutrient management projects such as diversion, irrigation, anaerobic digesters, composting, or treatment facilities. Maximum loan: $450,000.

Dairy Improvement Fund – Helps farms and other dairy enterprises fund capital improvements to maintain and enhance their viability. Maximum loan: $250,000.    

Commercial Facilities Development Program (CFD) – Financial assistance to assist in the development of new commercial facilities and/or the acquisition and redevelopment of commercial facilities that are deemed unproductive.

Speculative Buildings Program (CIB) – Loans of up to $500,000 are available to communities and their local development corporations to assist with construction and associated costs of speculative commercial and industrial buildings.

USDA Rural Development Authority’s Business and Industry Guaranteed Loans – USDA offers loan guarantees to lenders for their loans to rural businesses, which is helpful if a company is struggling to secure traditional financing.

CEI Business Loans – Equipment, property, construction, and working capital loans up to $3 million

CEI Wicked Fast Microloans – Streamlined application process for loans $25,000 and under

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