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

6.73%

25-Year Term

6.75%

20-Year Term

6.56%

10-Year Term

Success Stories

White Sails Inn

The White Sails Inn is what many would describe as the “quintessential Maine inn”. Located in Kennebunk, the bed and breakfast was previously known as the Elizabeth Rose House. Susanne Lillis purchased the inn in May of 2023. Susanne, who was born and raised in Sonderborg, Denmark, lived in Rangeley, Maine for 19 years.  Having spent 25 years in the hospitality industry, she decided to fulfill her lifelong dream of owning her own establishment and purchased this picturesque inn. She was working with Franklin Savings Bank to secure funding for the purchase, and as things seemed to become complicated, was…

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