Areas Served: Washington County
The Sunrise Loan Fund (SLF) is a revolving loan fund established and administered by Sunrise County Economic Council (SCEC) in Machias for businesses in Washington County, Maine.
Currently there are two revolving loan funds created with funding and assistance from USDA Rural Development and FAME, or the Finance Authority of Maine.
SLF offers businesses and entrepreneurs access to capital through locally operated revolving loan funds.
Each with its own specific criteria and eligibility set by the entity from which the program was created, these loans can be a perfect match to complete your financial package to build or start your business in Washington County.
These loans are not stand-alone type loans.
The lender may be a bank, a community lending institution, regional economic development organization or other non-profit business and community resource agency.
Loans will be used for Washington County job creation and retention, with a high priority placed on businesses and manufacturers that add value to local resources.
Start up businesses will be considered for financing only if they will create a minimum of two jobs.
SLF loans can be made to small businesses as classified by the Small Business Administration.
Eligible uses depend on funder’s individual regulations and rules we are required to follow.
This includes site and leasehold improvements, purchase of equipment, furniture and fixtures, and working capital.
Loans may be made for real estate purchases if SCEC’s collateral position is adequate, job creation and retention is sufficient and all other financing options have been exhausted.
Contact InformationSunrise County Economic Council
Address: 1 Stackpole Road
City: Machias
State: Maine
Website:
http://sunrisecounty.org/?s=business+loan
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