No, the Maine Funding Network is free to use. As you proceed with loan applications, some providers may charge an application fee that will be processed outside of the Maine Funding Network.

The Finance Authority of Maine (FAME) owns and operates the Maine Funding Network. FAME is a quasi-independent state agency that develops and administers programs related to the financing of both higher education and business in the state of Maine.

Please reach out to us through email at support@mainefundingnetwork.com.

Yes! Some of the providers in the Maine Funding Network work with businesses that are interested in expanding or relocating to Maine.

You will submit some basic business information to find your funding match in our network:

• Contact information
• Address
• Business type
• Business description
• Financing information
  • How much money is needed
  • How soon the money is needed
  • Intended use of funding

The Maine Funding Network is comprised of public and nonprofit funding sources from all over the state. See the latest list of participating organizations on our Network page.

No, there is no limit to the amount of funds you can request. You should ask for the funding you need. Our funding partners often work together to meet larger requests.

The types of funding available are small business loans, equity financing, and innovation grants.

Small business loans or debt financing involves borrowing money from a lender. Businesses can use loans to fund various aspects of their operations, including working capital, expansion, equipment purchases, or real estate acquisitions. Loans come with an agreed-upon interest rate and a repayment schedule. Unlike equity financing, taking a loan means the business retains full ownership, but they have an obligation to repay the borrowed amount.

Equity investment is capital invested in a business in exchange for part ownership (shares) of that company. Equity investors expect that companies will be high growth and working toward an exit plan, likely a sale of the business. There may also be additional requirements such as the creation of a board and information reporting as well as shared decision-making between investors and company management.

Innovation grants support new ideas, devices, or methods with the potential to grow and diversify Maine’s economy. These grants are limited to innovative ideas in seven targeted technology sectors and require one-to-one matching funds.

No. An approved match request means that your selected funding match is interested in moving forward with your business and will request that you complete a Common Loan Application.

Once you’ve completed the funding match form and have connected with your funding match, you will be asked to submit a Common Loan Application with more details about your business. Use our Application Checklist to get ready.

If you are requesting more than $50,000, you will need to submit a complete business plan will need to be submitted. If you are requesting less than $50,000, you may submit a complete business plan or complete the Business Questionnaire.

Each applicant, guarantor, and owner who has 20% or greater interest in the business will need to submit a Personal Financial Statement, including personal tax returns for the past three years.

No.

Files may be uploaded as a PDF, doc, docx, csv, jpeg, png, xls, xlsm, or xlsx.

No, you will need to complete only one Common Loan Application.

Unfortunately, no. The matching process and Common Loan Application are only available in an online format. However, many of the organizations in the Maine Funding Network offer offline or paper applications.