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
Transparent Audio, Inc. (TA) was established in 1981 as a marketing and distribution company for high-end Norwegian electronics. Today, TA manufactures and sells Transparent Cables and Well Tempered Turntables worldwide. TA is a high-end manufacturer of products whose fit and finish is recognized as the best in their industry. TA approached the City of Saco and Southern Maine Finance Agency to provide a financing package that would meet their financing needs for their expansion and relocation, which was completed in 1998. “When we were ready to build, location was very important. It’s beautiful here, with trees and space. As an international business, it's important…Read the full story...