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Southern Maine Finance Agency
Southern Maine Finance Agency
Amount
Varies
Deadline
Rolling
Odds
Not published
Effort
1 to 2 hrs
Can you get this?
✓Business must be located in Maine
✓Provides gap financing traditional banks won't offer
✓Covers startups, small, and large businesses
✓Funds cash, fixed assets, working capital, real estate
Your real odds
Rolling applications mean you are not competing against a deadline, but approval still depends on your project's viability and the size of your financing gap.
As a CDFI, SMFA is structured to lend where banks will not, so their approval standards are more flexible than a conventional lender's, though you still need a credible business case. Their multiple loan programs signal that they work across a range of business types and sizes.
What it takes
Review loan programs to find the right fit1 to 2 hrs
Prepare business plan and financial documents1 week
Submit application online1 to 2 hrs
Worth knowing
SMFA explicitly offers patient, flexible financing and positions itself as a complement to traditional bank lending, so if a bank has already partially declined or capped your financing, that gap is precisely what they are set up to fill.
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