Business Loans

Helping Maine Business Grow

Our Mission: Helping Maine Businesses Grow

EMDC is dedicated to establishing a competitive business climate that embraces free enterprise, encourages entrepreneurship, promotes innovation, develops a quality workforce, and supports infrastructure investment, all of which lead to a thriving economy.

Businesses and entrepreneurs from across Maine come to EMDC when they're ready to grow. We offer resources and connections that enhance access to capital and provide alternative routes to financing including start-up, early-stage and mature businesses. We work with you to structure deals that help you achieve your business dreams.

With our team of experienced finance professionals who have years of experience helping small business owners, we provide the complete range of commercial lending services including technical assistance, underwriting, analysis, packaging and servicing through the life of the loan.

Proven Success

At EMDC, we have been providing small businesses with financial resources and technical assistance for more than 35 years. We have connected businesses with more than $86 million in capital through federal, state and local partnerships.

Since 1981, in cooperation with our valued lending partners, we have participated in 818 loan transactions, helping create and retain 8200 jobs in the state of Maine. This has been leveraged with an additional $271 million in private and other capital.

EMDC is an Economic Development District (EDD), a Certified Development Company (CDC), a MicroEnterprise Development Organization (MDO), and a certified SBA Lender. We are able to work with businesses in any city, town or county in Maine. We partner with both federal and state agencies to provide access to capital to small businesses. We are proud to support the SBA program to assist entrepreneurs in financing their facilities and providing this important economic business development tool.

Our Funding Partners

  • United States Department of Agriculture (USDA)
  • Finance Authority of Maine (FAME)
  • State Small Business Credit Initiative (SSBCI)
  • Economic Development Administration (EDA)
  • Small Business Administration (SBA)

Our Promise to Our Customers

At whatever stage you are, we will work with you to help you achieve success. Our goal is to assist you in the best manner possible - quickly, efficiently and personally. If we can't help you, we will provide you with the resources that can. Your success is our success.

EMDC is an Equal Opportunity Lender, and prohibits discrimination in its programs on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, and marital or family status. Discrimination is prohibited by Federal Law. Complaints of discrimination may be filed with the USDA, Director, Office of Civil Rights, Washington, D.C. 20250.

Business Loan FAQs

How long does it take to secure a loan through EMDC?

EMDC strives to provide clients with financing in a timely manner; we know that time can be of essence for our small business owners. We meet twice a month to review loan applications.

Are loans fixed or variable rate?

Loans through EMDC can either be fixed or variable rate, depending on the funding program and the project. Our staff evaluates the business’ need and matches it with the best loan program.

Do I need a down payment or equity for a loan through EMDC?

A down payment or equity may be required. We do understand that may be difficult and will work with our customers to structure the loan accordingly.

How do I start the loan application process?

Starting a loan application is easy. Just contact EMDC and let us know that you are interested in our loan programs. We’ll collect information about you and your company to see what lending programs you may qualify for.

What if I don’t have a business plan or need other assistance with my business?

EMDC’s Business Services can assist you with your business plan and your business needs. We have resources and connections to help at whatever stage of the business lifecycle you may be at. If you need help developing a business plan, our Business Development Specialist will walk you through the steps, provide easy to complete templates, and work with you throughout the process.

Will you check my credit score?

EMDC will check your credit score if you apply for a loan. A bad credit score doesn’t necessarily mean you will be turned down for a loan. We can also provide resources that will work with you to help you improve your credit score.

I’ve been turned down by a bank. Can I still apply for a loan through EMDC?

Absolutely. EMDC loan programs often have more flexibility than traditional lenders, so we may be able to find a program that fits your situation.

What are the top 3 things you review for loan requests?

Our loan officers look at the total package applying for a loan through EMDC. We review the business cash flow, the collateral for the loan and the credit score amongst others.