Areas Served: Sagadahoc County, and the Towns of Brunswick and Harpswell
MCOG provides financing assistance for Maine business expansions, start-ups, and modernizations throughout Sagadahoc County, and the Towns of Brunswick and Harpswell.
They serve as a secondary lender and work with banks and other private and public funding sources to leverage the capital available to small businesses.
MCOG offers two loan programs:
Direct Business Loan Loan Criteria: Loans up to $150,000. Interest Rate: Wall Street Prime (WSP) + 2% – 4% with fixed rate.
Loan Term:
¢ To be based on the business’cash flow and useful life of the assets being financed; not to exceed 5 years
¢ Prepayment is allowed without penalty Security/Collateral: Assets being financed and other collateral, personal assets and personal guarantees, as required.
Fees: 2% Origination fee and Closing costs
Micro Loan Loan Criteria: Loans up to $25,000. Interest Rate: Wall Street Prime (WSP) + 2% – 4% with fixed rate.
Loan Term:
¢ To be based on the business’ cash flow and useful life of the assets being financed; not to exceed 5 years
¢ Prepayment is allowed without penalty Security/Collateral: Assets being financed and other collateral, personal assets and personal guarantees, as required.
Fees: Closing costs only
Contact InformationMidCoast Maine
Address: 7 Park Street
City: Bath
State: Maine
Website:
http://midcoastcog.org/programs-and-services/
Leave a Reply