Sea Farm Loan

Sea Farm Loan is sponsored by Coastal Enterprises, Inc. (CEI). A loan product specifically designed to help finance shellfish and sea vegetable growers in Maine.

Small Business Loans - CEI We make the process of applying for a loan quick and seamless CEI offers business financing for a wide range of purposes including start-up, working capital, real estate and equipment purchases, facilities expansion, and construction in Maine.

CEI is committed to reducing the wealth gap and building a more equitable economy by focusing our services on people and communities unable to access financing from traditional sources. And we don’t stop there. Our lenders, investors, business and workforce advisors, and food system, aquaculture, and climate experts lend their expertise, connections, and hands-on support to make sure you and your business succeed.

Find the Right Loan for You Have questions about a potential loan request? Complete our inquiry form! Get the cash you need to help your business grow.

New to applying for a business loan, or heard a “no” before? Our friendly and knowledgeable lenders, business advisors and credit counselors are here to help you succeed. 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. Start-up, working capital, real estate and equipment purchases, facilities expansion, and refinance of existing higher interest rate debt. Up to $1 million (higher amounts may be considered) 3-7 years with extended amortization possible.

Other Features / Requirements: Speak with your loan officer about additional features or requirements. Have your business plan, financials, and other materials handy? Then you’re ready to apply!

In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

Are you looking for flexible cash for your business without a long and complicated application process? CEI’s Wicked Fast Loans offer up to $15,000 for start-up businesses and up to $30,000 for existing businesses. Working capital, equipment/supplies and refinance existing higher interest.

Funds cannot be used for real estate purchases. Up to $15,000 for start-up businesses and up to $30,000 for existing businesses. Other Features / Requirements: 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. Have your business plan, financials, and other materials handy?

Then you’re ready to apply! In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need.

Wicked Fast Application Checklist A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly. We know that a lack of financing options that align with Islamic financing principles can limit your ability to start or grow your business. For entrepreneurs like you, we provide an alternative that charges a fixed monthly administrative fee, based on the loan amount and term, instead of interest that accrues each month.

CEI believes this fixed fee-based product is compliant with the principles of Islamic finance and is similar to other models we have researched. We acknowledge that there are many countries and regions of the world which interpret Islamic law differently, so please feel free to review with your local mosque, imam or other community members. 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. Any. This business loan product is available to all applicants for commercial uses.

Working capital, equipment/supplies and refinance existing higher interest. 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. Other Features/Requirements: Speak with your loan officer about other features or requirements. Learn more about our Riba-Free Loan product Have your business plan, financials, and other materials handy?

Then you’re ready to apply! Loan Application (Under $30,000) Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application (over $30,000) In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

Your passion is helping children grow & develop. Ours is to help you finance your dream. After nearly 45 years of helping child care providers just like you, we’ve created a special loan product for licensed Maine child care providers (and those in the process of being licensed) that is tailored to your needs.

Loans can be used to buy children’s activities, create an outdoor learning environment, purchase required health & safety supplies, renovate or purchase a building and more. We think it’s particularly important that you have enough money or working capital on hand to cover staff wages, food & consumables (ex. fingerpaint and paper) during your first few months.

Whether you are starting up or expanding, we are ready to help with financing to make your child care dream a reality. Licensed Maine child care businesses and entrepreneurs in the process of being licensed Business assets (children’s activities, furniture, supplies & more) and working capital (money on hand for bills during the first few months) Up to $250,000. Higher amounts may be considered.

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 • 20% of enrollment allocated to Child Care Affordability Program Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application (over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

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 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.

Maine’s coastal counties – York, Cumberland, Sagadahoc, Lincoln, Knox, Waldo, Hancock and Washington Counties – 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 Restructuring of debt, purchasing boats, gear, and equipment, renovating or constructing infrastructure, acquiring land, and operating capital $25,000 to $250,000 (higher amounts considered) FIXED 5.

0% through the life of the Loan. Origination fee of 2. 0% of the loan with other filing fees payable at closing.

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) Have your business plan, financials, and other materials handy? Then you’re ready to apply! In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000.

Templates from other institutions are acceptable. Personal Financial Statement Contact our Fisheries & Aquaculture experts! 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 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.

Commercial fisheries and aquaculture 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 $25,000 to $250,000 (higher amounts considered) FIXED 5. 0% through the life of the Loan.

Origination fee of 2. 0% of the loan with other filing fees payable at closing.

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) Have your business plan, financials, and other materials handy? Then you’re ready to apply! In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000.

Templates from other institutions are acceptable. Personal Financial Statement Contact our Fisheries & Aquaculture experts! Commercial Fisheries Loans With over 45 years of experience lending in the fisheries sector, CEI understands the needs of your business and can provide financing that will boost, not burden, your business.

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.

Maine’s coastal counties – York, Cumberland, Sagadahoc, Lincoln, Knox, Waldo, Hancock and Washington Counties Restructuring of debt, purchasing boats, gear, and equipment, renovating or constructing infrastructure, acquiring land, and operating capital $25,000 to $250,000 (higher amounts considered) FIXED 5. 0% through the life of the Loan. Origination fee of 2.

0% of the loan with other filing fees payable at closing.

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) Have your business plan, financials, and other materials handy? Then you’re ready to apply! In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000.

Templates from other institutions are acceptable. Personal Financial Statement Contact our Fisheries & Aquaculture experts! Does your small business want to go solar?

As part of a pilot program, we are offering 3. 5% 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, so loans may be capped in size due to demand. 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.

Installation of solar panels and related upgrades (e.g. battery storage, electrical panels) 3. 5% for those who meet eligibility requirements. Market-rate loans are available for other business borrowers.

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

Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000.

Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly. Meat & Poultry Processing Loans 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.

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

Predevelopment, real property and business acquisition, construction, working capital, machinery, and equipment. 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. Have your business plan, financials, and other materials handy? Then you’re ready to apply!

In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

Value-Added Agricultural Producer You take food from the farm, orchard or sea to the table, adding your magic along the way. We’re here to add a not-so-secret ingredient, financing, to make your food processing business possible. 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. Food/Farm business engaged in value added production (start-ups considered); commitment to local/regional raw ingredient sourcing preferred.

• VA processing equipment • Expand/improve processing capacity • Revenue-tied inventory purchases • Limited working capital that directly supports VA production including Other Features / Requirements Additional eligibility requirements: • Demonstrated site control of processing space (ownership, lease, etc.) Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application (over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

Farm Equipment & Infrastructure From tractors to high tunnels, keeping the livestock in place to extending the season, we’re here to finance your farm equipment and infrastructure needs. 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.

Farm eligibility is based on active agricultural production, business intent, and operational viability rather than acreage size.

Small-scale farms, including operations under one acre, may qualify where the production system, markets, and financial capacity support the proposed investment • Ag production equipment and installation • Construction, renovation, fit-up of ag infrastructure including: – Barns, washpack, high tunnels, greenhouses – Storage, cold storage structures – Fencing, other pasture management – Energy or climate-resilience improvements • Limited working capital Other Features / Requirements: • Demonstrate secured land tenure (ownership, lease, other documented access) • Demonstrate 12 months of farm revenue, and/or other farm management experience Have your business plan, financials, and other materials handy?

Then you’re ready to apply! Loan Application (over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need.

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly. If you’re looking to purchase farmland, whether you’re a new farmer looking for your first plot of land or a generations-old family farm transitioning to the next generation, we have financing to make it happen. 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.

• Property primarily for agricultural use and purposes • PFAS testing (if applicable) • P&S or equivalent option to buy • Purchase of real property • Acquisition of estblished farm buildings and permanent agricultural structures • Fees associated with conservation, organic transition, land-use restrictions required at closing • Limited rehab or immediate repair to place property into immediate ag use • Refinance of seller-held notes or short-term acquisition debt tied to purcahse of property (case-by-case) • Limited working capital Other Features / Requirements: • Property purchase supports at least one of the following: – Farm viability or continuity – Entry of beginner farmer – Intergenerational transition – Conservation of working lands • Appraisal or comparable market analysis • Demonstrate 24 months of farm revenue, and/or other farm management experience Have your business plan, financials, and other materials handy?

Then you’re ready to apply! Loan Application (Over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need.

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly. Healthy Food Retail & Distribution Loan Authorized by the Farm Bill, the Healthy Food Financing Initiative seeks to improve access to healthy foods in underserved areas. If you sell food direct to consumers or groceries and accept SNAP, you may be eligible.

Business selling food directly to consumers (eg.

grocery retail, farm stand, farmers market, CSA) OR distributing food to grocery in underserved areas • Facility expansion or improvement • Revenue-tied inventory purchases • Limited working capital that directly supports healthy food sales – SNAP training or implementation – Software purchase and implementation Other Features / Requirements •SNAP must be accepted and tracked •Must be located in an eligible low-income or rural census tract as defined by the USDA – contact Bradley.

Russell@ceimaine. org to see if you qualify Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application (Over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

Healthy Food Retail & Distribution Loan Authorized by the Farm Bill, the Healthy Food Financing Initiative seeks to improve access to healthy foods in underserved areas. If you sell food direct to consumers or groceries and accept SNAP, you may be eligible. Business selling food directly to consumers (eg.

grocery retail, farm stand, farmers market, CSA) OR distributing food to grocery in underserved areas • Facility expansion or improvement • Revenue-tied inventory purchases • Limited working capital that directly supports healthy food sales – SNAP training or implementation – Software purchase and implementation Other Features / Requirements •SNAP must be accepted and tracked •Must be located in an eligible low-income or rural census tract as defined by the USDA – contact Bradley.

Russell@ceimaine. org to see if you qualify Have your business plan, financials, and other materials handy? Then you’re ready to apply!

Loan Application (Over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below.

A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.

Have you been awarded a grant that reimburses you for project expenses, but you still need cash to cover up-front costs until the reimbursement comes? Our grant bridge loans can help cover that temporary cash flow gap.

Business, co-op, or non-profit with a grant award that is fully executed or supported by official award letter and grant funds are reimbursable, creating temporary cash-flow gap Only project-tied costs that are explicitly eligible for reimbursement under awarded grant Other Features / Requirements Demonstrated capacity for grant compliance, reporting, and reimbursement Have your business plan, financials, and other materials handy?

Then you’re ready to apply! Loan Application (Over $30,000) In addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application. Review our application checklist to ensure you have all the materials you need.

A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000. Templates from other institutions are acceptable.

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

Community Facility & Nonprofit Loans CEI offers financing to projects that support nonprofits and/or the construction, rehabilitation or expansion of facilities that support community needs including: Healthcare facilities such as hospitals, medical and dental clinics, nursing homes or assisted living facilities Community, social, or cultural services such as child care centers, community centers, food banks and pantries, fairgrounds, transitional housing, libraries or schools 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. Community Facilities & Nonprofits Real estate and equipment purchases, facilities expansion, and refinance of existing higher interest rate debt. Up to $1 million (higher amounts may be considered) Up to 7 years, with extended amortization possible Other Features/Requirements: Limited to borrowers who are Nonprofit organizations and Tribal entities.

Have your business plan, financials, and other materials handy? Then you’re ready to apply! In addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.

Review our application checklist to ensure you have all the materials you need. A business questionnaire can be completed in place of submitting a formal business plan for loan requests $50,000 and below. A financial statement is required for all guarantors on loans greater than $100,000.

Templates from other institutions are acceptable. Personal Financial Statement Complete our inquiry form and a lender will reach out to you shortly.