About Southern Maine Finance Agency (SMFA)
The Southern Maine Finance Agency began as the Biddeford-Saco Area Economic Development Corporation, a non-profit partnership between the cities of Biddeford, Saco and the Biddeford Saco Chamber of Commerce and Industry in 1992.
Our mission is to promote sustainable economic prosperity though regional business lending, targeting underserved markets in Southern Maine. We work collaboratively with the communities, financial institutions and local, regional, state and federal organizations throughout York County to facilitate policies, projects and programs that will accommodate and capture new investments in Southern Maine.
The corporation is staffed by three employees and governed by a fifteen member board of directors. We have a ten member loan committee and a five member advisory panel. We are certified as a Community Development Financial Institution by the U.S. Department of the Treasury.
They worked with us through every phase of this project to collaborate with bankers and get us the funding we needed to keep our development on schedule.Doug Sanford
They really helped our business stay on track.John Grondin