The Maine Funding Network, a new online platform aimed at connecting Maine businesses with financing options, has been introduced by Governor Janet Mills. This resource is designed to simplify the process for borrowers to find suitable funding options from various public and nonprofit agencies in Maine.
The network was created with valuable input from Maine business owners, lenders, and economic development leaders. Initially, fifteen partner organizations will be part of the network, offering services that range from business advising to venture capital. The network is expected to expand with time to include more partners.
Businesses can create an account on the portal and submit information about their funding requirements. The system will match them with suitable providers based on their needs and business type. This streamlines the process for businesses seeking multiple funding sources, enabling them to complete a single loan application.
The Finance Authority of Maine (FAME) will host a live webinar on May 29 from 3-4 p.m., providing further information about the Maine Funding Network and how businesses can utilize this tool to access financing options for their growth. Key documents on the portal are available in Arabic, French, Portuguese, Spanish, and Somali, the most commonly spoken languages in the state.
Governor Mills stated that this new resource is essential for supporting small businesses in Maine’s economy as they grow and succeed.
“Small businesses are the backbone of our economy,” Governor Mills said. “By providing them with access to financing options through the Maine Funding Network, we can help them grow and create new jobs in our state.”
