Small business owners have many resources and organizations available to help fund and grow their company. While these resources are very helpful, they do offer a lot of information to digest. Once understood, the small business needs to organize, calculate then publish its information in order to be approved for a loan.
Each organization have different standards and requirements that a business must follow before a loan is approved. JMH has worked with all these organizations. We will be happy to help you pick the correct organization for the type of loan you are applying for and work with you to process the loan application so that you can properly fund and expand your business.
Small Business Administration
The SBA has a number of programs to help the small business grow. These programs can be distinguished by total dollars loaned, types of lenders, how the loans are used, plus the terms of the loan placed on the borrower. It should be noted, that the SBA does not provide grants to individual business owners to start or grow a business.
Financial Authority of Maine – FAME
FAME was established as Maine’s business finance agency in 1983 to support the start-up, expansion and growth plans of Maine’s business community. The agency began working closely with Maine’s lending community to improve access to capital as well as to help fill gaps that exist in the State’s capital delivery system.
Coastal Enterprises, Inc. – CEI
CEI and its subsidiaries offer business and project financing and technical support for a wide range of small business, community facilities, renewable energy, affordable housing and mixed used real estate projects. With flexible business financing, loans, investments, rates and terms, CEI is able to leverage its capital with banks and other sources.