We generate economic growth and opportunity by leveraging resources and financing your business’s next step in success. As a Community Development Financial Institution (CDFI) and a US Small Business Administration (SBA) lender, we have loans ranging from $500 to $5.5 million that help start-up and existing small businesses statewide.
EMDC has been awarded $2.8 million in federal funding to leverage private investment and generate capital for businesses in Hancock, Knox, Penobscot, Piscataquis, Waldo, and Washington counties. The funding is awarded by the U.S. Department of Commerce, Economic Development Administration’s Revolving Loan Fund, as part of the CARES Act Recovery Assistance to respond to the pandemic.
$10,000 or $15,000 with a 2.0% interest rate for small businesses and non-profits operating for at least 1 year with a minimum credit score of 650 or 680
Up to $450,000 with interest rates as low as 2.0% for all businesses and non-profits
Up to $250,000 for start-ups and existing businesses
Up to $12.5m – fixed rate for start-ups and existing businesses
Fixed rate for start-ups and existing businesses
Up to $75,000 – fixed rate for existing businesses
In small business loans
Jobs created or retained
Leveraged in private capital
Through our partnership with Eastern Maine Development Corporation, we have grown industry building connections that have led to multiple expansions and have received funding solutions that foster that growth.
With the help of EMDC’s Workforce Services, we partnered with local high schools and vocational education programs and are committed to hiring Maine workers. On any tradeshow floor, union foremen are excited to work with a Maine company due to our state’s reputation for hard work and dedication. Ntension began with three employees from the local area and has grown to be staffed at any given time with over sixty local employees.
We leveraged the funding we received through EMDC’s lending program to grow from a single suite in 2006 to a 52,000 square foot flagship facility in 2014 that has set us apart as an industry leader. We operate the only multi-truss system that spans over 8,000’. The decision to open a manufacturing facility in Maine was spurred by the quality of workers in the area.
In the Spring of 2019, Ntension will release a new product line that will change the face of the tradeshow industry. This product line has led to a footprint expansion in our facility, new machinery, and added jobs within our company. As the company grows and expands to add more facilities and products, we will proudly call Maine our home, and the hub of all operations.
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