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

Current SBA 504 Loan Interest Rates

4.13%

25-Year Term

3.92%

20-Year Term

3.74%

10-Year Term

Success Stories

Biscuits and Company

Grandmother’s recipe creates a startup business. When Stacy Cooper, working in Boston, decided to move to Maine, she brought along her grandmother’s biscuit recipe and a desire to be an entrepreneur. After selling her biscuits at local fairs and the Kennebunk Farmers Market, her friends and partner encouraged her to apply for the 2013 Biddeford Main Street Challenge and fulfill her dream of opening a restaurant. After Stacy made it to the second round, she reached out to a small business coach to work on her business plan and design some market research. When she won the competition’s $10,000 prize,…

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Fernleaf Bakery