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Sponsored by: Gorham Savings Bank
Updated: March 6, 2023 2023 Startup Hub

Gorham Savings Bank

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Steve deCastro, president and CEO of Gorham Savings Bank

155 years of believing in local business

One hundred and fifty-five years ago, Gorham Savings Bank was a startup itself. From those very first days, we’ve worked hard to help ensure that Maine’s (other) small businesses would have the financial tools, advice and access to capital that they needed.

Today we have more branches, more resources, more expertise, much better technology and unmatched knowledge of the markets we serve. We also have a unique understanding of the entrepreneurial experience, gained through our annual LaunchPad small business competition — which enters its 10th year in 2023.

In that decade, we’ve awarded nearly $450,000 in LaunchPad grants to startups throughout Maine. And of course, our Business Banking team continues to ensure that Maine business owners receive expert guidance when it comes to managing their money and growing their Businesses.

We are so honored to receive the U.S. Small Business Administration 2022 District Director Award. The award acknowledges all the hard work that goes into growing Maine’s small businesses. In 2022 alone, GSB completed loans totaling $13 million in new money to small businesses right here in southern Maine. These are the loans that help small businesses reach that crucial “next level.” We know from experience that early support is essential to the success of a small business. And we’re proud to be able to fulfill our mission to be a force for good in our local communities.

That’s why GSB began, 155 years ago, and why we plan to be here in another 155, still putting Maine first.

— Steve deCastro, President and CEO, Gorham Savings Bank and the GSB Business Banking Team (207) 221-8484

On the move

Our annual LaunchPad competition is shifting from its usual spring time frame to a new event date in October. Stay tuned for application updates and networking opportunities at GorhamSavings.Bank/LaunchPad