Business Loans

Northern Maine Development Commission (NMDC) is here to help you navigate the process of applying for business loans in Aroostook, Washington, Northern Penobscot, and Piscatiquis counties, whether you are a new or existing business. We offer assistance for the following loan programs.

Loan Products

There are a variety of loan programs available to help address the different needs of the business community. Each program has particular purposes and requirements including a range of eligible financing, use of funds, type of business, collateral requirements, and interest rates.

  • Micro Business Loans up to $50,000 with low-fixed interest rates  and terms between 5 and 10 years 
  • Small Business Loans from $50,000 to $350,000 with low interest rates  and terms up to 25 years
  • Brownfields Cleanup Loans up to $250,000 with an interest rate of 3% and up to a 25-year term.

Full loan application can be found here.

Community Loan Fund Management

In addition to loan packaging and technical assistance, members of the Business Finance Department also manage several other projects including:

When looking for help to start your business or expand, don’t forget to contact the town office in which the business is located. Many local towns and municipalities have funds and resources available to help you grow.

Financing Partners

NMDC’s financing partners include:

  • Certified Community Development Financial Institution/Affordable Financial Products and Services
  • US Small Business Administration Microloan Lender
  • USDA Microenterprise Development Organization
  • FAME Regional Economic Development Loan Program
  • Economic Development Administration