We now offer SBA 504 Loans! Low Rates - Up to 90% Financing
Biddeford, ME 207-282-1748


SMFA Application Intake Process

Please review the following instructions for how to complete applications for our Loan Programs. If you have any questions, please do not hesitate to contact us.

SBA 504 Loans

SMFA offers the SBA’s 504 Loan Program to across the state of Maine. Through SBA 504 Loans, we lend long-term, below market fixed-rate financing to businesses for construction or renovation of facilities, to acquire major fixed assets such as real estate, machinery, and equipment for expansion or renovation. These loans are affordable, allowing a small business to obtain up to 90% financing on these assets, with as little as 10% coming from the business.

Contact SMFA for more information on rates and how to apply for a 504 Loan.

Other Loan Programs

Loan Application

Please read through and compile the information requested in the checklist below. Once you have compiled the required information, please click the Start Application button below.

Note: The application times out after 60 minutes of inactivity. For security purposes, you cannot save partial applications, or view your application after you have submitted it. Please review the Application Checklist below and obtain the information listed in the checklist prior to starting the application to avoid retyping the requested information

Application Checklist

Step 1 : Business Structure

Complete profile for the business that is applying for funding under the SMFA programs. Information you will need to have available will include:

Step 2 : Owner Profiles

Complete profile(s) for individual(s) or business(es) that have 20% ownership or greater in either the borrowing entity or business owner. Information you will need to have available will include:

  • Legal name of individual or business owner;
  • Physical/mailing address;
  • Date of Birth for individual or Start Date of business owner;
  • Social Security # for individual or Federal Tax ID# for business owner;

Step 3 : Project Representatives

Complete the contact information including phone number and e-mail address for banking, legal and accounting representatives of the borrowing entity or business owner.

Step 4: Business Indebtedness

Do you have any outstanding debts? If YES, please furnish the following information on all outstanding installment debts, contracts, notes, and mortgages payable:

  • Name of Lender or financing entity;
  • Account Number, original amount and date of indebtedness;
  • Current outstanding balance due;
  • Rate of Interest;
  • Maturity Date;
  • Monthly Principal and interest payment;
  • Collateral securing the indebtedness; and,
  • Status of indebtedness; Current or Past Due.
  • Please answer the DISCLOSURES questions.

Step 5: Project Summary

Please explain the purpose of this loan or a brief narrative description of the project.

Step 6: Sources

Please provide information on the source(s) of funding that will be used to complete the project described in Step 5 (excluding SMFA loan).

Step 7: Use of Proceeds

Please provide a breakdown of the use of proceeds for the project described in Step 5.

Step 8: Employment Requirements

Our programs are designed to accomplish, among other things, the creation of jobs for low to moderate income individuals. In some cases, at least 51% of the new jobs created must meet this criterion. A brief description must be submitted with this application for the new jobs to be created. If your application is approved, the available jobs will need to be listed with the Jobs Training Partnership Act program and the Maine Job Service.

Step 9: Record Confidentiality, Certifications and E-Signature Page

Please read and acknowledge the certifications on the E-Signature Page by checking the “I agree” box and typing your NameTitle and Phone # at the bottom of the page and click Save in order to complete and submit the application.

Confidentiality of Records

I (we) request that information provided by me (us) and developed by the lending agency, or its staff or agents, with respect to this application for financial assistance be designated Confidential and not open for public inspection. This includes the disclosure of tax or financial information; assessment of the creditworthiness or financial condition; records obtained by the lending agency in connection with this application; the monitoring or servicing of an existing project; proprietary information; and information regarding investors, current and potential.


To the best of my (our) knowledge, the above information is accurate, true and correct. I (We) understand that any false or misleading information I (we) provide may lead to my (our) disqualification from this program. I (we) authorize the lending agency and others on its’ behalf to gather, collect and verify any and all information about me (us) furnished in connection with this application or which it believes is advisable and which relates to this application and loan. The information that may be verified includes, but is not limited to, the following: employment, pensions, mortgages, deposits, and any other income; personal or business loans; hazard insurance; and further, to obtain a credit report. If this application is approved, I (we) will be obligated by the promissory note the lending agency will give me (us), which I (we) will sign. This application remains the lending agency’s property, whether or not this application is approved.

Step 10: Demographics Survey

The Federal Government requires SMFA track certain ethnicity, race and sex data related to loans for equal credit opportunity monitoring. You are not required to furnish this information but are encouraged to do so. If you do not wish to furnish the information, please check the appropriate box and click Save. If you do not furnish ethnicity, race, or sex data, under Federal regulations, SMFA is required to note the information on the basis of visual observation or surname.