Grow Maine Loan Guarantee Program
Grow Maine supports participating lenders with SSBCI loan guarantees for eligible Maine businesses and nonprofits.
About this program
The Grow Maine Loan Guarantee Program is part of Maine's $62 million SSBCI allocation and is deployed through FAME's commercial loan insurance channels and participating lending institutions. The guarantee program supports private financing for eligible Maine businesses and nonprofits with fewer than 750 employees, helping lenders provide capital for startup, working capital, equipment, inventory, business procurement, and owner-occupied real estate projects. Grow Maine requires private capital leverage, with reduced leverage floors available for SEDI borrowers.
Eligibility
Maine businesses and nonprofits with fewer than 750 employees seeking lender financing for eligible business purposes through a participating lender.
Requirements
- Business or nonprofit must be located in Maine.
- Applicant must have fewer than 750 employees.
- Applicant must work through a participating lending institution.