Maine PTAC Maine DBE

Loan Products

We help you finance the next step in your business’s path to success by collaborating with partners like the U.S. Small Business Administration (SBA), Finance Authority of Maine, local financial institutions, and more. Through individualized advising, our lending team helps you prepare for the application process, and provides servicing through the life of the loan.

Streamlined Loan Program:

Loan amount of up to $75,000
Loan decision usually within two business day from submission
Existing businesses with two full years of operation
Appropriate cash flow coverage and credit score
Fixed Rate
No prepayment penalty

EMDC Direct Loans:

Funding available to both existing and start-up businesses.
Uses include real estate, equipment, renovations, expansions, working capital and more.
Fixed Rate
Bank participation or stand-alone
No prepayment penalty

SBA Loan Programs:

SBA 504 Loans:
- Loans up to $12,500,000
- Done in partnership with a bank
- Typically, bank funds 50% of the project, SBA 504 loan (through EMDC) funds 40% and Borrower provides 10%
- Uses include real estate and equipment
- Loan term up to 25 years for real estate, 10 years for equipment
- Fixed Rate
- No prepayment penalty after half of the loan term has expired.
SBA 7a Community Advantage Loans:
- Loans up to $250,000
- For working capital, inventory, purchase of real estate and equipment, property improvements.
- Term of ten years or less, no prepayment penalty
- Term of more than 10 years, prepayment penalty ends after first three years.

Family-owned and operated Bowen’s Tavern opened its doors in downtown Belfast in November of 2009. In 2011, the opportunity arose to lease a building that had been in our family since the 1940s. After unsuccessful attempts to get a mortgage to purchase the building, we worked with EMDC to secure financing that led to the purchase of the building and surrounding land. As time went on, it became clear that working capital was necessary to invest in our business. We turned to EMDC again, and thanks to their help we have the funding we need to leverage resources and see our family business thrive. Our payments are reasonable and affordable thanks to EMDC’s guidance.