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

6.56%

25-Year Term

6.60%

20-Year Term

6.80%

10-Year Term

Success Stories

T & D Wood Energy

T&D Wood Energy, founded by Tony Wood and his father in 2018, manufactures premium wood pellets for the heating market in the Northeast. The company sells to all New England states, and in each of the three heating seasons, they have sold out of all their product and needed to make more. The owners had been working on developing a wood pellet plant for almost 11 years before they got close to building a facility. When the company was ready to close financing on its current plant, Coastal Enterprises brought Southern Maine Finance Agency (SMFA) into the relationship. "Working with…

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