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
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,…
Read the full story...