The Maine chapter of the U.S. Small Business Administration oversees dozens of resources to assist small business owners and executives. Under new District Director Marilyn Geroux, the office has assembled a comprehensive resource guide, which is posted at sba.gov/me, and at mainebiz.biz/sbadirectory.The agency offers programs to help minority, veteran-owned and woman-owned businesses, and other target […]
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The Maine chapter of the U.S. Small Business Administration oversees dozens of resources to assist small business owners and executives. Under new District Director Marilyn Geroux, the office has assembled a comprehensive resource guide, which is posted at sba.gov/me, and at mainebiz.biz/sbadirectory.
The agency offers programs to help minority, veteran-owned and woman-owned businesses, and other target populations. It also offers extensive financial assistance. Below is a selection of resources picked by the Mainebiz editorial staff.
Small Business Development Centers
For specific information about Maine's SBDC programs, go to mainesbdc.org.
Small Business Development Centers offer free, one-on-one expert business advice and low-cost training to small business professionals and entrepreneurs. Professional advisers help with services such as developing business plans, manufacturing assistance, financial packaging and lending assistance, exporting and importing support, disaster recovery assistance, procurement and contracting aid, market research services and health care information. To schedule an appointment for counseling or see seminar schedules, contact the center nearest you directly.
SBDC Service Centers
Maine SBDC hosted by Coastal Enterprises Inc. at FAME 5 Community Drive, Augusta 620-3521
Maine SBDC hosted by Coastal Enterprises Inc. at MCCOG — Midcoast West 759 High St., 3rd Floor, Bath 443-5790, Ext. 18
Maine SBDC Service Center Coastal Enterprises Inc. One Cumberland Place, Ste. 302, Bangor 942-1744
Maine SBDC at Northern Maine Development Commission — Caribou 11 W. Presque Isle Road, Caribou 498-8736 or 800-427-8736
Maine SBDC at Coastal Enterprises Inc. — Ellsworth 210 Main St., Suite 7, Ellsworth 664-2990
Maine SBDC hosted by Coastal Enterprises Inc. at KVCOG — Fairfield 17 Main St., Fairfield 453-4258, Ext. 215
Maine SBDC at Androscoggin Valley Council of Governments — Lewiston/Auburn 125 Manley Road. Auburn 783-9186
Maine SBDC at Coastal Enterprises Inc. — Machias Sunrise County Economic Council 1 Stackpole Road, Machias 1-888-269-0566
Maine SBDC at University of Southern Maine — Portland 501 Forest Ave., Portland 780-4949
Maine SBDC hosted by University of Southern Maine at SMRPC — Sanford/Springvale 21 Bradeen St., Suite 304, Springvale 324-0316
Maine SBDC at Coastal Enterprises Inc. — Midcoast East 36 Water St., Wiscasset 882-4340
SCORE
Details of the program can be found at score.org or by contacting a local office.
SCORE is a national network of nearly 14,000 entrepreneurs, business leaders and executives who volunteer as mentors to America's small businesses. SCORE matches small business executives with a mentor whose personality, experience and skills are a good fit for the business's needs. SCORE advisers offer help on topics such as starting, growing and marketing a small business.
SCORE centers
Augusta SCORE #305 Maine District SBA Office 68 Sewall St., Federal Bldg., Rm. 512, Augusta 622-8509, augustame.score.org Hours: By appointment only
Bangor SCORE #314 Federal Bldg., 202 Harlow St., Suite 230, Bangor 942-0103, bangor.score.org Hours: By appointment only
Lewiston/Auburn SCORE #325 Business Service Center Key Bank Plaza 415 Lisbon St., Lewiston 782-3708, lewistonauburn.score.org Hours: Monday through Friday, 8:30 a.m. – 12:30 p.m.
Downeast Maine SCORE #389 Mill Mall Office, Ellsworth 667-5800, downeastmaine.score.org Hours: By appointment only
Oxford Hills SCORE #479 2 Market Square, South Paris 743-0499, oxfordhills.score.org Hours: Monday through Friday, 9 a.m. – noon
Portland SCORE #53 100 Middle St. East Tower, 2nd Floor, Portland 772-1147, portlandme.score.org Hours: By appointment only
Western Mountain SCORE #586 60 Lowell St., Rumford 364-3123, westernmountains.score.org Hours: By appointment only
Business loans
Details are at sba.gov/me. Details on 504 loans and Microloans are at sba.gov/504 and sba.gov/microloans.
The SBA offers several loan programs for small businesses, including microloans of up to $5,000, seasonal lines of credit, acquisition and improvement of capital assets and general operating capital, among others. The SBA's 7(a) loan is the agency's most popular because of its flexible loan structure, eligible uses and availability. It guarantees a loan offered by a participating lender.
504 loans
This SBA program provides long-term, fixed-rate, subordinate mortgage financing for acquisition and/or renovation of capital assets including land, buildings and equipment through certified development companies. Most for-profit small businesses are eligible for this program. Loan amounts are capped at $5.5 million. Certified development companies in Maine are:
Eastern Maine Development Corp. 40 Harlow St., Bangor 942-6389, emdc.org
Coastal Enterprises Inc. 36 Water St., Wiscasset 882-7552, ceimaine.org
Granite State Development Corp. Jim Maxwell 183 Newhall Road, Wells 646-5988, granitestatedev.com
Pine Tree State Certified Development Corp. Field Rider 120 Exchange St., Portland 773-3104, pinetreestatecdc.com
Microloans
Under this program, the SBA makes funds available to nonprofit intermediaries that, in turn, make small loans directly to entrepreneurs, including veterans. The funds can be used for typical business purposes such as working capital, or the purchase of furniture, fixtures, machinery, supplies, equipment and inventory.
Androscoggin Valley Council of Governments 125 Manley Road, Auburn 783-9186, avcog.org
Community Concepts Inc. 17-19 Market Square, South Paris 743-7716, community-concepts.org
Coastal Enterprises Inc. 36 Water St., Wiscasset 882-7552, ceimaine.org
Eastern Maine Development Corp. 40 Harlow St., Bangor 942-6389, emdc.org
MaineStream Finance 262 Harlow St., Bangor 973-3500, mainstreamfinance.org
Northern Maine Development Commission 11 W. Presque Isle Road, Caribou 498-8736, nmdc.org
