Business Resources & Incentives

  1. Regional Resources
  2. Maine Development Incentives
  3. Lending Resources

Regional Resources

MidCoast Economic Development District

Brunswick businesses are eligible to apply for Business Loans (up to $150,000) and Micro Loans (up to $25,000) from the MidCoast Economic Development District (MCEDD), a municipally led regional development and planning organization. MCEDD funds may be subordinated to financing from other lenders. Borrowers must create or retain quality jobs, in order to be eligible for MCEDD loans.

  • Eligible Uses of Funds: Real estate acquisition, building improvements, furniture and fixtures, equipment, inventory and supplies, and working capital
  • Loan Terms: Amortization based on the business' cash flow and useful life of assets being financed; not to exceed five years
  • Interest Rate: Fixed at Wall Street Prime (WSP) plus 2 to 4% with fixed rate
  • Fees: 2% Origination fee and closing costs

Coastal Enterprises Inc. (CEI)

CEI, a community development finance institution headquartered in Brunswick, provides the following capital resources for Brunswick businesses: direct small business loans of $1,000 to $50,000; targeted industry loans for natural resources, energy and environment, childcare and refugee and immigrant businesses; SBA 504 loans up to $4 million for manufacturers; venture capital investments of less than $500,000 to over $1 million; and, New Markets Tax Credit investments of $2 million to $30 million. In addition to financing programs, CEI hosts Maine Small Business Development Center counselors, who can help small business owners with business planning and other business management issues.

  • Eligible Uses of Funds: Real estate acquisition and development, machinery and equipment and working capital
  • Loan Terms: Interest rate and term depend on how funds are to be used, as well as the assets being used for collateral