SMFA Celebrates 30 Years
We are at an enormously exciting point in the history of the Southern Maine Finance Agency. Reaching our 30th year as an organization is clearly a significant milestone, and we have many achievements to be proud of.
SMFA has succeeded in bringing focus and expertise to a narrow, niche market – providing gap financing to commercial enterprises. These businesses range from very small startups to established businesses seeking to grow and expand. We work with a variety of sources of funds, and a network of local banks. With these unique relationships, and many loan options to offer clients, we can tailor financing packages that enable companies to reach otherwise unattainable goals. We help entrepreneurs enter the economy, we help create jobs, and we help businesses grow. This contributes to growing communities.
Our development has been a steady pattern of growth, both geographically and conceptually. What began with financing startups in Biddeford and Saco has gradually expanded throughout York county. Now with our CDC designation, and SBA 504 Loans, we impact the entire state.
2022 Board of Directors
We help very small businesses such as hospitality, restaurants, retail shops, and product inventors. An evolving part of our business has been firms with a more regional outlook: entities doing business across the region and beyond. These can be involved in manufacturing, distribution, and services. We partner with local banks to create loan packages to meet the financial needs of the small to more complex business. You might say we have something for everyone!
In 2021, the US Small Business Administration has approved SMFA as a Certified Development Company (CDC). This means we are empowered to originate federally funded SBA loans under the 504 Loan Program. 504 Loans can be originated on a statewide basis, greatly expanding our economic footprint.
Meet Our Staff
There’s no question that the last 30 years has required dedication and effort at times, there have been growing pains and challenges along the way, but at every step the staff, the Board of Directors, the Loan Committee, and local lending institutions have worked as a team. This dynamic partnership allows us to be what we are today – a regional lending organization that is well respected in the state, and now with the ability to have a statewide impact.
What we do really matters to businesses, and directly influences the growth of communities.
If you have questions about a business loan, or would like to discuss financing options, please CONTACT US – we’d love to talk with you!