Learn More about CDFI's and Small Business Resources in Maine see here
While the federal government does not provide grants for starting or growing small businesses, one of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury.
Community Development Financial Institutions fall into four categories:
Coastal Enterprises, Inc.
Community Concepts Financial Corporation
Genesis Fund, Inc.
Western Maine Finance Corporation
The Small Business Administration has established the Loan Guarantees Program wherein they aim to be able to provide guaranteed loans to small business establishments which are not capable of acquiring financing from a private credit marketplace but greatly manifests the ability to repay funds in a timely manner.
To get approval for your small business loan application, you must be able to meet the lending criteria set down. Some organisations are more risk averse than others, and will therefore have more st...