Supporting a brighter, more sustainable future. One small business at a time.

Geography:

Maine

Sector:

Any

Uses:

Installation of solar panels and related upgrades (e.g. battery storage, electrical panels)

Amount:

Up to $200,000.

Interest Rate:

3.25% for those who meet eligibility requirements (see above). Market-rate loans are available for other business borrowers.

Typical Term:

5-7 years with extended amortization possible.

Other Features/Requirements:

CEI requires loan applications to be completed a minimum of 6 weeks before the REAP applications are due to give adequate time to produce the necessary documentation (only applicable to those applying for REAP).

Geography:

Maine

Sector:

Any

Uses:

Installation of renewable energy and related upgrades (e.g. battery storage, electrical panels)

Amount:

$15,000 to $1 million.

Interest Rate:

6-8%

Typical Term:

5-7 years with extended amortization possible.

Other Features/Requirements:

Talk with your loan officer about other features and requirements.

Geography:

Maine’s coastal counties – York, Cumberland, Sagadahoc, Lincoln, Knox, Waldo, Hancock and Washington Counties

Sector:

Commercial aquaculture. To be eligible: – Borrower must have necessary licensing and leasing permits – Borrower must have documented $500 in sales to unrelated/non-family party – A complete business plan and minimum two years cash flow projection

Uses:

Restructuring of debt, purchasing boats, gear, and equipment, renovating or constructing infrastructure, acquiring land, and operating capital

Amount:

$25,000 to $250,000 (higher amounts considered)

Interest Rate:

FIXED 5% through the life of the Loan. Origination fee of 2% of the loan with other filing fees payable at closing.

Typical Term:

Up to 7 years, with flexible/seasonal payments considered

Other Features / Requirements:

– Must be an active Maine Commercial Fisherman or Aquaculturist – Must operate within Maine’s coastal counties – Must have necessary licenses and leasing permits Complete business plan and minimum two years cash flow projection (CEI can assist) – CEI generally seeks collateral equivalent to the full amount of the loan but has flexibility. – CEI requires the personal guaranty of the owner(s)

Geography:

Maine

Sector:

Commercial fisheries and aquaculture

Uses:

Vessels & Hybrid Retrofitting; Electric Marine Engines; Batteries; Solar Arrays* for Charging, Upwellers, & Facilities; Shoreside Charging and Electrical Connections; Self-Powered Refrigeration; Non-toxic Fouling Wrap for Marine Vessels; Other Projects Considered *May be eligible for CEI’s Low-Cost Solar Loan

Amount:

$25,000 to $250,000 (higher amounts considered)

Interest Rate:

FIXED 5% through the life of the Loan. Origination fee of 2% of the loan with other filing fees payable at closing.

Typical Term:

Up to 7 years, with flexible/seasonal payments considered

Other Features/Requirements:

– Must be an active Maine Commercial Fisherman or Aquaculturist – Must operate within Maine’s coastal counties – Must have necessary licenses and leasing permits Complete business plan and minimum two years cash flow projection (CEI can assist) – CEI generally seeks collateral equivalent to the full amount of the loan but has flexibility. – CEI requires the personal guaranty of the owner(s)

Geography:

New England states (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) and New York

Sector:

Any species eligible for USDA inspection include cattle, sheep, swine, goats, catfish, and equine. Poultry species amenable to USDA inspection include chickens, turkeys, ducks, geese, guineas, ratites, and squabs (young pigeons).

Uses:

Predevelopment, real property and business acquisition, construction, working capital, machinery, and equipment.

Amount:

Up to $2.5 million

Interest Rate:

Fixed Rate of 6%

Typical Term:

Up to 10 years, with amortization over 20 years possible.

Other Features / Requirements:

NOTE: The following species are not eligible for voluntary federal inspection or this lending program: rabbit, antelope, bison, buffalo, catalo or cattalo, deer, elk, reindeer, water buffalo, yak; voluntary poultry, migratory waterfowl, and game birds.