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Geography:

Maine

Sector:

Any

Uses:

Start-up, working capital, real estate and equipment purchases, facilities expansion, and refinance of existing higher interest rate debt.

Amount:

Up to $1 million (higher amounts may be considered)

Interest Rate:

6-10%

Typical Term:

3-7 years with extended amortization possible.

Other Features / Requirements:

Speak with your loan officer about additional features or requirements.

Geography:

Maine

Sector:

Any

Uses:

Working capital, equipment/supplies and refinance existing higher interest. Funds cannot be used for real estate purchases.

Amount:

Up to $15,000 for start-up businesses and up to $30,000 for existing businesses.

Interest Rate:

7.25%

Typical Term:

Up to 5 years/60 months

Other Features / Requirements:

Decision within 3 business days. Non-profit businesses do not qualify. Borrower must have evidence of a relationship with a business advisor. CEI can make referrals to a free Business Advisor upon request.

Geography:

Maine

Sector:

Any. This business loan product is available to all applicants for commercial uses.

Uses:

Working capital, equipment/supplies and refinance existing higher interest.

Amount:

Up to $1 million.

Interest Rate:

None. A fixed monthly administrative fee is calculated on the loan amount and term based on the cost of doing business, which includes CEI’s cost of funds, internal loan group operations, and the loan’s level of risk. Over the life of the loan, the cumulative admin fee is equal to the accrued interest on a typical interest-bearing loan of the same amount and term.

Typical Term:

3-7 years

Other Features/Requirements:

Speak with your loan officer about other features or requirements.

Geography:

Maine

Sector:

Licensed Maine child care businesses and entrepreneurs in the process of being licensed

Uses:

Business assets (children’s activities, furniture, supplies & more) and working capital (money on hand for bills during the first few months)

Amount:

Up to $250,000. Higher amounts may be considered.

Interest Rate:

2.75%

Typical Term:

5 to 7 year loan with interest only payments for the first 6 months.

Other Features / Requirements

• Business plan / financial forecast is cash flow positive • 25% owner investment (can include Child Care Infrastructure Grant award) • 20% of enrollment allocated to Child Care Affordability Program

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:

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.

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:

Maine

Sector:

Any

Uses:

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

Amount:

Up to $200,000.

Interest Rate:

3.5% 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:

Community Facilities & Nonprofits

Uses:

Start-up, working capital, real estate and equipment purchases, facilities expansion, and refinance of existing higher interest rate debt.

Amount:

Up to $1 million (higher amounts may be considered)

Interest Rate:

6-8%

Typical Term:

3-7 years with extended amortization possible.

Other Features/Requirements:

Limited to borrowers who are Nonprofit organizations and Tribal entities.