We now offer SBA 504 Loans! Low Rates - Up to 90% Financing
Biddeford, ME 207-282-1748

SBA Loans

SBA Loans

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Business Financing

Business Financing

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Counseling

Counseling

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Applications

Applications

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Helping Maine businesses get the financing they need.

The Southern Maine Finance Agency (SMFA), formerly known as the Biddeford Saco Area Economic Development Corporation (BSAEDC), promotes sustainable economic prosperity though regional business lending. We work collaboratively with communities, financial institutions and local, regional, state and federal organizations to offer a variety of financing options and support to Maine businesses.

SMFA helps businesses, large and small, by providing gap financing for projects that require cash, fixed asset financing, start-up/working capital and real estate acquisitions and development. We now offer SBA 504 Loans, further enhancing our loan options for clients.

We offer patient, flexible financing that a traditional bank loan would not be able to offer a business.”

~~ Will Armitage, SMFA President
Kate Nelligan
Kate Nelligan, Kate Nelligan Designs

Celebrating 30 Years!

Current SBA 504 Loan Interest Rates

6.49%

25-Year Term

6.51%

20-Year Term

6.38%

10-Year Term

Success Stories

Yale Cordage

Yale Cordage, Inc. is a manufacturer of synthetic rope for the pleasure marine, industrial, utility and oceanographic markets.  The company purchased a vacant building in the Biddeford Industrial Park in 1997 and then relocated to a new facility in the Saco Industrial Park in 2000.  Southern Maine Finance Agency (SMFA) worked with Yale Cordage to structure a financing package for both real estate acquisitions to reduce their annual debt service. “Everything came together here.  SMFA came charging to the table and lined up all the elements for us very quickly–financing, labor force issues…they certainly made it easy.” Tom L. YaleRetired PresidentYale CordageSaco,…

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