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Sponsored by: Community Concepts Finance Corporation
Updated: August 2, 2021 2021 Fact Book: Doing Business in Maine

Community Concepts Finance Corporation

PHOTO courtesy of Community Concepts Finance Corporation Surry Seafood Company co-owner, Tracy Blaisdell (right) accepts the grant funding provided by CCFC from Client Services Advisor and Educator Diane Peet. Co-owners Scott Blaisdell and Tammy Richard are not pictured.

A mission to help businesses succeed and reach their goals

The phrase “Business as usual” is no longer part of our vocabulary thanks to the COVID-19 pandemic. Everyone has had to adapt to the “new normal” and ever-changing federal guidance, especially our business community.

As the guidance and rules changed and new federal and state programs were created to support businesses during the pandemic, staff at Community Concepts Finance Corporation (CCFC) was there to help business owners every step of the way, just like they would be any other time a business owner needs help.

CCFC believes all individuals, families and communities can be financially secure and offers homebuyer, business and economic development resources and services. The nonprofit corporation is a part of Community Concepts, Inc., and staff at both CCFC and Community Concepts adapted programs and services to meet the needs of the community during the pandemic.

“The COVID-19 pandemic hit our local, state and global economy hard. Businesses were forced to shut down to help keep people safe and stop the spread of COVID-19,” said Nate Libby, President of CCFC. “Everyone, from the SBA to our traditional bank partners to our organization, looked for ways to support our business owners. We kept our business clients informed of SBA programs like the Paycheck Protection Program and explored all resources to help them stay afloat.”

One of those resources was a grant opportunity through The Federal Home Loan Bank (FHLB) of Boston and Norway Savings Bank. CCFC was awarded $50,000 as part of the Jobs for New England Recovery Grant program to support the small business community. In November 2020, CCFC distributed the $50,000 to small business owners in the restaurant/food service, hospitality/lodging, barber shop, and commercial screen-printing industries who met the eligibility requirements. The businesses were located across four Maine counties, including the Towns of Bethel, Dixfield, Lewiston, Norway, Oxford, Portland, South Paris, and Winthrop.

The COVID-19 pandemic hit our local, state and global economy hard. Businesses were forced to shut down to help keep people safe and stop the spread of COVID-19.
— Nate Libby,President of CCFC

Surry Seafood Company was one of those grant recipients and Tammy Richard, co-owner of the Dixfield restaurant, shared, “Through this trying time, our survival is a direct result of Community Concepts Finance Corporation staff reaching out, being up to date, giving advice, and helping with grants as they might apply to our business at Surry Seafood Co., LLC. Our survival is also a direct result of our resilience and willingness to keep going when others stopped. Surry’s being open today is a result of determined forces working together. We are grateful for our partnership with a business who cares more about us than of themselves.”

Another grant recipient, Daddy O’s Diner co-owner Aaron Ouellette shared, “Community Concepts Finance Corporation aggressively looked for ways to support us and proactively worked to assist us in locating funding to keep ourselves afloat. Without the support and assistance from CCFC, we might not have made it through the pandemic.”

PHOTO courtesy of Community Concepts Finance Corporation
Tilbury House Publishers in Thomaston recently worked with CCFC to survive the pandemic. Jonathan Eaton (right), a co-publisher, shared 2021 is looking to be the best year ever. Pictured with Jonathan is Mariellen Eaton, the office manager.

CCFC is based in South Paris, but staff can work with clients statewide, including the town of Thomaston where CCFC is working with the town officials on economic development. Tilbury House Publishers recently worked with CCFC and Jonathan Eaton, a co-publisher, shared, “The pandemic posed an existential threat to Tilbury House Publishers. Stores, libraries, schools—all the places that distribute children’s books—shut down in April 2020, and the bottom dropped out of our sales. It was grim. We obtained a Paycheck Protection loan but knew it wasn’t enough. Then we learned of SBA-backed COVID relief loans available through CCFC, and we applied. CCFC helped us through the process, and the $50,000 loan not only helped us pay our bills but gave us optimism to keep going. We survived, and 2021 is shaping up to be our best year ever. I’m a big believer in CCFC’s mission.”

Pandemic or not, CCFC is here to help get Maine businesses headed in the right direction. CCFC’s Business Advisors work one-on-one with individuals looking to start a new business, expand their current business or acquire an existing business to determine their specific needs. Christopher DeCato, Vice President of Client Service Operations, explained every loan client gets access to technical assistance provided free-of-charge.

“Anytime someone reaches out to us about starting a business or expanding their business, that person is assigned to one of our four business advisors. The business advisor will then walk through the process, from beginning to end, although there really is no end. Our advisors are here to provide any technical assistance the business owner may need at any time, with our end goal of making your business traditionally bankable,” shared DeCato.

There are many things to consider when deciding to start a business: choosing a name, creating a business plan, setting up a legal structure, opening a business bank account, obtaining licenses and permits, setting up an accounting and record keeping system, and obtaining a Federal Employer Identification Number to name just a few. DeCato noted CCFC’s Business Advisors are there to guide business owners through this process, providing support every step of the way. “You don’t have to do this alone. We are here to help.”

The SBA defines a small business as a business with fewer than 500 employees, so most Maine businesses fall under this definition. “I’m proud to say CCFC is one of the state’s top Small Business Administration’s microlenders for the last six years,” shared Libby. “That success comes from a dedicated and knowledgeable team who are always ready to lend a helping hand or ear.”

PHOTO courtesy of Community Concepts Finance Corporation
Little Brick Pub owners Tim and Bobbi Nugent opened in December 2018 with support and guidance from CCFC. The pub is located in Mechanic Falls and serves wings, burgers, pizza, and delicious homemade desserts.

One of those small businesses that CCFC staff have been working with is the Little Brick Pub, located in Mechanic Falls. Owners Tim and Bobbi Nugent explain how CCFC has been there every step of the way. “We started our small business journey planning three years ago. During that process and still today, CCFC has been there every step of the way to offer us their guidance, advice, assistance, and support. We have a great appreciation for all that they do for Maine small businesses and value each and every relationship we have built with their team. We hope to continue to make CCFC proud of our accomplishments and are very grateful for all that they do working with small businesses of Maine.”

CCFC’s Business Advisors are also ready to help existing business owners grow and expand. Co-owners Ethan and Teresa Houle of 207 Small Engine Repair in Arundel connected with Kevin Smart, one of CCFC’s Business Advisors and Certified QuickBooks Pro. “When we first met, our business was growing fast, and we wanted to connect with an organization who understood business and finance and could help us through the rapid growth of our business and help us reach our goal of buying our own space within a certain timeline. Meeting with them was a game changer. Their support has been tremendous! Kevin has helped us through numerous hours of bookkeeping to get us where we needed and wanted to be. In the year and a half since we started working with Community Concepts Finance Corporation, we have grown out of two rental spaces, and we are on track to buy our own space by September 2021. Our books are in order, our finances are excellent, and we are surpassing our projections. Community Concepts Finance Corp. has a terrific team of personable, knowledgeable people who genuinely want to help businesses thrive.”

PHOTO courtesy of Community Concepts Finance Corporation
Ethan and Teresa Houle, owners of 207 Small Engine Repair in Arundel, along with their dog Toby, have worked with CCFC to expand their growing business.

In addition to supporting businesses statewide, CCFC also provides dedicated economic development support to Oxford County. A major area of focus is increasing access to reliable high-speed internet services, something that became essential during the pandemic as schools and businesses went remote. CCFC in partnership with the Northern Forest Center has been leading work to expand broadband to rural Oxford County. CCFC also provides homeownership support through its homebuyer education and financial capabilities programs.

“We want you to succeed and reach your goals. Give us a call. Our team is here and ready to help,” added Libby.

Community Concepts Finance Corporation

17 Market Square
South Paris, ME 04281

240 Bates Street
Lewiston, ME 04240

Nonprofit

Nate Libby, President

Founded: 2000

Number of Maine employees: 15

ccfcmaine.org