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
Designing a Bright and Colorful Future “Even with an award-winning business plan, banks kept saying no.” That’s when Kate Nelligan contacted Southern Maine Finance Agency (SMFA). Kate had been turned down by a number of banks as she sought to bring her design business to the village of Kennebunkport. She had even found retail space in the super competitive Dock Square area on her own, but it was SMFA that believed in her concepts and successful track record that made the financing possible. Kate, who is a Kennebunkport native, had started her own business after working for a number of corporations and…Read the full story...