Searching for trusted Maine SBA lenders to power your business growth? Our comprehensive directory connects Maine entrepreneurs with approved SBA loan providers throughout Portland, Bangor, Augusta, Lewiston and across the state. Whether you’re exploring SBA 7(a) loans, 504 loans, microloans, or disaster assistance, our list features the most active small business lenders with competitive rates and flexible terms for Maine businesses. Discover which local banks, credit unions, and financial institutions participate in Small Business Administration lending programs, compare their requirements, and find the ideal financing partner to help your Maine small business thrive in the Pine Tree State’s distinctive economic landscape.
| Lender Name | City | State |
|---|---|---|
| Acadia FCU | FORT KENT | ME |
| Androscoggin Savings Bank | LEWISTON | ME |
| Aroostook County Federal Savings & Loan Association | CARIBOU | ME |
| Atlantic Capital Bank, NA | ATLANTA | GA |
| Atlantic Regional FCU | BRUNSWICK | ME |
| Auburn Savings Bank, FSB | AUBURN | ME |
| Bangor Savings Bank | BANGOR | ME |
| BankUnited NA | MIAMI LAKES | FL |
| Bar Harbor Bank & Trust | BAR HARBOR | ME |
| Bar Harbor Savings & Loan Association | BAR HARBOR | ME |
| Bath Savings Institution | BATH | ME |
| Berkshire Bank | BOSTON | MA |
| Biddeford Savings Bank (Division of Maine Community Bank) | BIDDEFORD | ME |
| Brewer FCU | BREWER | ME |
| Byline Bank | CHICAGO | IL |
| Cambridge Trust Company | CAMBRIDGE | MA |
| Camden National Bank | CAMDEN | ME |
| Celtic Bank Corporation | SALT LAKE CTY | UT |
| CIBC Bank USA | TORONTO | CANADA |
| Citizens Bank | PROVIDENCE | RI |
| Connected CU | Augusta | ME |
| Cornerstone Bank | YORK | NE |
| cPort CU | Portland | ME |
| Damariscotta Bank & Trust Company | DAMARISCOTTA | ME |
| Eastern Bank | BOSTON | MA |
| Eastern Maine Development Corp. | BANGOR | ME |
| Eastmill FCU | EAST MILLINOCKET | ME |
| Evergreen CU | PORTLAND | ME |
| FinWise Bank | SANDY | UT |
| First Chatham Bank | SAVANNAH | GA |
| First Federal Savings & Loan Association of Bath | BATH | ME |
| First Home Bank | ST. PETERSBURG | FL |
| First National Bank | DAMARISCOTTA | ME |
| First State Bank Nebraska | HICKMAN | NE |
| FirsTrust Savings Bank | CONSHOHOCKEN | PA |
| Five County CU | Bath | ME |
| Five Star Bank | WARSAW | NY |
| Franklin Savings Bank | FARMINGTON | ME |
| Gorham Savings Bank | GORHAM | ME |
| Independence Bank | HENDERSON | KY |
| Infinity FCU | WESTBROOK | ME |
| Katahdin FCU | MILLINOCKET | ME |
| Katahdin Trust Co. | PATTEN | ME |
| Kennebec Savings Bank | AUGUSTA | ME |
| Kennebunk Savings Bank | KENNEBUNK | ME |
| KeyBank National Association | CLEVELAND | OH |
| KSW FCU | WATERVILLE | ME |
| Legacy Bank & Trust Company | CLINTON | MO |
| Lincoln Maine FCU | Lincoln | ME |
| Live Oak Banking Company | WILMINGTON | NC |
| Machias Savings Bank | MACHIAS | ME |
| Machias Savings Bank | MACHIAS | ME |
| Maine Community Bank | BIDDEFORD | ME |
| Maine Family FCU | LEWISTON | ME |
| Maine Savings FCU | HAMPDEN | ME |
| Maine State CU | Augusta | ME |
| Manufacturers and Traders Trust Company | BUFFALO | NY |
| Mechanics Savings Bank (Division of Maine Community Bank) | AUBURN | ME |
| Meredith Village Savings Bank | MEREDITH | NH |
| Merrimack Valley FCU | HAVERHILL | MA |
| New Dimensions FCU | WATERVILLE | ME |
| Newburyport Five Cents Savings Bank | NEWBURYPORT | MA |
| Newtek Small Business Finance, Inc. | LAKE SUCCESS | NY |
| NorState FCU | MADAWASKA | ME |
| Northeast Bank | LEWISTON | ME |
| Northway Bank | BERLIN | NH |
| Norway Savings Bank | NORWAY | ME |
| Optima Bank & Trust Company | PORTSMOUTH | NH |
| Partners Bank | SANFORD | ME |
| Penobscot County FCU | OLD TOWN | ME |
| People’s United Bank | BRIDGEPORT | CT |
| Primary Bank | BEDFORD | NH |
| Readycap Lending, LLC | NEW PROVIDENCE | NJ |
| Rockland Savings Bank, FSB | ROCKLAND | ME |
| Saco & Biddeford Savings Institution | SACO | ME |
| Seaboard FCU | BUCKSPORT | ME |
| Seacoast National Bank | STUART | FL |
| Sebasticook Valley Federal Credit Union | Pittsfield | ME |
| Skowhegan Savings Bank | SKOWHEGAN | ME |
| State Bank and Trust Company | MACON | GA |
| Stearns Bank National Association | ST. CLOUD | MN |
| Strafford Economic Development Corp. | DOVER | NH |
| TD Bank | CHERRY HILL | NJ |
| The County FCU | PRESQUE ISLE | ME |
| The Provident Bank | JERSEY CITY | NJ |
| United Midwest Savings Bank | COLUMBUS | OH |
| University CU | ORONO | ME |
| Wells Fargo Bank NA | SAN FRANCISCO | CA |
Frequently Asked Questions
Q: What are SBA loans and how do they work in Maine?
A: SBA loans are government-backed loans provided through approved lenders in Maine. The Small Business Administration guarantees a portion of the loan, reducing risk for lenders and allowing them to offer more favorable terms to Maine small businesses. The lender provides the funds while the SBA guarantees repayment up to a certain percentage, typically 75-85% depending on the program. This structure enables Maine entrepreneurs to access capital with lower down payments, longer repayment terms, and competitive interest rates compared to conventional business loans.
Q: What types of SBA loans are available to Maine businesses?
A: Maine businesses can access various SBA loan programs including:
- SBA 7(a) loans: The most common program for general business purposes with loans up to $5 million
- SBA 504 loans: For major fixed asset purchases like real estate or equipment
- SBA Microloans: Smaller loans up to $50,000 for startups and smaller businesses
- SBA Express loans: Faster approval process with loans up to $500,000
- SBA Disaster loans: Special assistance for businesses affected by declared disasters
Q: What are the minimum requirements to qualify for an SBA loan in Maine?
A: To qualify for an SBA loan in Maine, businesses typically need:
- For-profit operation based in Maine
- Owner-occupied (not primarily for investment)
- Good personal credit (typically 650+ FICO score)
- Sufficient cash flow to support loan payments
- No recent bankruptcies, foreclosures, or defaults on government loans
- Reasonable owner equity investment (typically 10-30% depending on the program)
- Operating history of at least 2 years (though some lenders work with startups)
Q: How do Maine SBA lenders support businesses in the marine and fishing industries?
A: Maine’s iconic coastal economy has created specialized SBA lending expertise in the marine sector. Several Maine lenders have developed industry-specific loan packages designed for lobstering operations, aquaculture farms, boat builders, seafood processors, and maritime service providers. These lenders understand the unique capital needs, seasonal patterns, and regulatory considerations of marine businesses and can structure loans accordingly. Some Maine SBA lenders coordinate with the Maine Department of Marine Resources and the Island Institute to provide comprehensive support. These specialized lending programs have helped Maine’s working waterfronts evolve amid changing fisheries by financing diversification into aquaculture, value-added processing, and direct-to-consumer seafood marketing, with particular attention to sustainable practices that preserve both marine resources and Maine’s coastal heritage.
Q: Are there special SBA loan programs for Maine’s tourism and hospitality businesses?
A: Yes, Maine’s position as a premier tourism destination has influenced local SBA lending practices. Several Maine lenders offer tailored loan packages for lodging properties, restaurants, tour operators, and outdoor recreation businesses. These lenders understand the seasonal nature of Maine tourism and can structure loans with flexible payment schedules aligned with the summer and fall visitor seasons. Some Maine SBA lenders coordinate with the Maine Office of Tourism and regional chambers of commerce to help businesses access both financing and industry support. These specialized programs have supported Maine’s evolving tourism economy by financing businesses that extend the traditional season, develop year-round attractions, and create authentic experiences throughout the state’s diverse regions from coastal communities to the western mountains and northern forests.
Q: How do Maine SBA lenders help businesses in the forest products industry?
A: Maine’s forest heritage has created specialized lending expertise for wood products businesses. Several Maine SBA lenders offer industry-specific loan packages designed for sawmills, furniture makers, specialty wood products manufacturers, biomass energy producers, and forestry service providers. These lenders understand the cyclical nature of timber markets and can structure loans to accommodate industry fluctuations. Some Maine lenders coordinate with organizations like the Maine Forest Products Council and the Maine Wood Products Association to provide comprehensive support. These specialized lending programs have helped Maine’s forest economy evolve beyond traditional pulp and paper production into innovative and higher-value wood products, with particular attention to businesses developing new markets for Maine’s abundant hardwood and softwood resources through sustainable forestry practices and advanced manufacturing techniques.
Q: Can food and beverage producers in Maine access specialized SBA financing?
A: Yes, Maine’s thriving food economy benefits from specialized SBA lending expertise. Several Maine lenders offer tailored loan packages for craft breweries, distilleries, specialty food producers, farm-to-table restaurants, and food manufacturing operations. These lenders understand the unique aspects of food production and can structure loans for equipment, facilities, and working capital needs. Some Maine SBA lenders coordinate with organizations like the Maine Food Producers Alliance and the Maine Brewers’ Guild to provide comprehensive support. These specialized programs have fueled Maine’s reputation as a food destination by financing the innovative small-batch producers, farmers, and food entrepreneurs who have transformed the state’s food landscape, with particular attention to businesses that leverage Maine’s agricultural strengths and create distinctive products with strong place-based identity.
Q: How do Maine SBA lenders support rural and small-town businesses?
A: Maine’s predominantly rural character has led to specialized lending approaches for small-town entrepreneurs. Several Maine SBA lenders participate in the USDA Rural Development Business & Industry Guarantee program alongside SBA programs to provide enhanced options for rural businesses. These lenders often coordinate with organizations like the Maine Development Foundation and regional economic development agencies to provide comprehensive support. Some Maine lenders have developed expertise in financing rural manufacturing, main street retail revitalization, and remote work-enabled businesses that are helping diversify rural economies beyond traditional resource-based industries. These specialized programs align with Maine’s efforts to strengthen rural communities through entrepreneurship, with particular attention to businesses that can thrive despite geographic isolation by leveraging Maine’s improving broadband infrastructure and strong community ties.
Q: Are there specialized SBA loan programs for Maine’s innovative technology businesses?
A: Yes, Maine’s growing innovation economy benefits from specialized SBA lending expertise. Several Maine lenders offer tailored loan packages for software developers, biotech firms, clean energy companies, and advanced manufacturing startups. These lenders understand the unique capital needs of technology-focused businesses and can structure loans accordingly. Some Maine SBA lenders coordinate with organizations like the Maine Technology Institute, the Maine Center for Entrepreneurs, and university research programs to provide comprehensive support. These specialized programs have helped diversify Maine’s economy by financing innovative businesses in the state’s strategic technology sectors, including marine technology, environmental solutions, precision manufacturing, and health innovations. While early-stage startups typically rely on angel investment and grants, SBA loans become viable options as tech companies reach commercialization and scaling phases.
Q: What other resources are available for SBA loans?
A: Other resources provided by Bigger Bottom Line include:
Q: How do I get assistance in getting an SBA or other business loan?
A: Contact the experts! We can assist from advising which lenders to submit to all the way through to developing & submitting a complete business loan package and anything in between. Contact us now for a free evaluation.