Solar, Clean Energy & Climate-Resilience Funding

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

Partnering with businesses like yours to steward our natural resources, shift to cleaner energy sources, increase sustainable business practices and create more climate-resilient businesses and jobs is key to our vision of a just, vibrant and environmentally sustainable future.

Whether you’re looking to install solar panels on your place of business, considering upgrading/electrifying equipment to be more efficient, or shifting your business model to be more climate-resilient, we are here to help you align your business with your environmental values.

We are solar financing experts, having financed over $22 million worth of solar loans in Maine and Northern New England – enough to power over 3,500 Maine homes!

A young white woman stands behind the counter at a solar-powered coffee roastery.

CEI LOANS

Find the Right Loan for You

Have questions about a potential loan request? Complete our inquiry form!

https://www.ceimaine.org/wp-content/uploads/2023/06/Goranson_Farm_08-1.jpg

Low-Cost Solar Loans

Does your small business want to go solar? As part of a pilot program, we are offering 3.25% interest loans for small businesses in Maine looking to go green and install solar panels on their business. We can also get you in touch with local solar installers for a quote.

Funds are limited and priority will be given to businesses that are BIPOC-, women-, or immigrant-owned. Loans may be capped in size due to demand.

Terms

Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.

Businesses eligible for the 3.25% rate are:

  • Business is located in an CDFI Fund-designated Investment Area (see sidebar)
  • Low-income borrower
  • Business serves low-income people as the business model
  • BIPOC, Woman, or Immigrant-owned
  • Business is within the following sectors: Aquaculture/Fishery, Food/Ag, Forestry, Green Enterprises*, Child Care

*To qualify as a green enterprise, the core mission of the business must be to provide an environmentally related good, product, or service.

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).

Loan Process

Can’t swing solar right now, but are interested in the future? We are currently raising funds to expand the program. Sign up to be notified of future funding options.

Sign Up

Is my Business in an Investment Area??

Investment Area Mapping Tool

Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application

In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application.

Credit Acknowledgement

Review our application checklist to ensure you have all the materials you need.

Application Checklist

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

Business Questionnaire

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement
QUESTIONS?
Complete our inquiry form and a lender will reach out to you shortly.
Contact Us

https://www.ceimaine.org/wp-content/uploads/2023/06/CEI_Central_LEED_Green_Features-2-e1688074891167.jpg

Clean Energy for Communities

We’ve financed solar installations for everything from art galleries to hockey rinks to schools and municipalities. We pride ourselves on finding the right financing option for your community facility or organization, and have experience with a wide range of financing models including debt, construction and bridge, project acquisition and Power Purchase Agreements (PPA).

Options include:

  • Power Purchase Agreements (PPA) projects for towns and municipalities
  • Community Solar installations
  • Construction projects that include renewable energy installations
  • Other clean energy installations including geothermal, heat pumps or EV chargers.

Terms

Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.

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.

Loan Process

Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application

In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Credit Acknowledgement

Review our application checklist to ensure you have all the materials you need.

Application Checklist

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

Business Questionnaire

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement
QUESTIONS?
Complete our loan inquiry form and a lender will contact you shortly.
Contact Us
https://www.ceimaine.org/wp-content/uploads/2023/05/Scallops_on_Line-1.jpg

Sea Farm Loans

 Financing for Maine’s Aquaculture Businesses

If you are seeking to grow your aquaculture operation but have had difficulty getting a loan from a commercial lender, CEI is here to help. We have over 45 years of experience working with marine trades, in and on the working waterfront, and are experts in aquaculture practices and financing.

Terms

Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.

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)

Loan Process

Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application

In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Credit Acknowledgement

Review our application checklist to ensure you have all the materials you need.

Application Checklist

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

Business Questionnaire

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement
QUESTIONS?
Contact our Fisheries & Aquaculture experts!
Contact Us
https://www.ceimaine.org/wp-content/uploads/2024/09/Nauti-Sisters-Shred-Electric-Solar-Oyster-Barge-at-work.jpeg

Marine Green Loans

Financing for Maine’s Working Waterfront

If you are seeking to transition to climate friendly, efficient operations but have had difficulty securing a loan from a commercial lender, CEI is here to help.

Terms

Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.

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)

Loan Process

Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application

In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Credit Acknowledgement

Review our application checklist to ensure you have all the materials you need.

Application Checklist

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

Business Questionnaire

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement
QUESTIONS?
Contact our Fisheries & Aquaculture experts!
Contact Us
https://www.ceimaine.org/wp-content/uploads/2021/04/Common_Wealth_Poultry_Blue_Horse_Photography-1.jpg

Meat & Poultry Processing Loans

Terms

The objective of the Meat and Poultry Intermediary Lending Program (MPILP) is to strengthen the capacity of independent meat processors, and to create a more resilient, diverse, and secure U.S. food supply chain. Loans for the start-up, expansion, or operation of slaughter or processing of meat and poultry.

To qualify for these loans a business must be engaged or propose to engage in USDA inspected meat and poultry processing. Custom exempt processing facilities do not qualify for this product, unless they have a demonstrated plan in place to become a USDA federally inspected facility. 

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.

Loan Process

Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application

In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application.

Credit Acknowledgement

Review our application checklist to ensure you have all the materials you need.

Application Checklist

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

Business Questionnaire

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement
Questions?
Complete our inquiry form and a lender will reach out to you shortly.
Contact Us