Eastern Maine Development Corporation
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Eastern Maine Development Corporation
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 8 | $1.3M | $158K | 33.3% |
| 458110 | Other | 8 | $1.2M | $150K | 33.3% |
| 722410 | Drinking Places (Alcoholic Beverages) | 8 | $1.1M | $135K | 33.3% |
Geographic Distribution
SBA lending activity for Eastern Maine Development Corporation by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Maine (ME) | 24 | $3.5M | 100.0% |
Why Choose Eastern Maine Development Corporation?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $3.5M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Other, Drinking Places (Alcoholic Beverages)
- ✓Competitive Terms: Average interest rate of 8.92% with flexible term lengths averaging 110 months
- ✓Loan Range: Loan sizes from $135K to $158K, with an average of $148K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in ME
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Eastern Maine Development Corporation SBA lending
What types of businesses does Eastern Maine Development Corporation typically finance?
Eastern Maine Development Corporation specializes in SBA 7(a) lending to specific industries including limited-service restaurants, other, drinking places (alcoholic beverages). They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Eastern Maine Development Corporation's typical SBA loan terms?
Eastern Maine Development Corporation's SBA 7(a) loans typically feature an average interest rate of 8.92% and average term length of 110 months (approximately 9 years). Loan sizes range from $135K to $158K, with an average loan size of $148K.
Do I need a business valuation for a Eastern Maine Development Corporation SBA loan?
Yes, Eastern Maine Development Corporation typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Eastern Maine Development Corporation compare to other SBA lenders?
Eastern Maine Development Corporation has originated 24 SBA loans totaling $3.5M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Eastern Maine Development Corporation lend in?
Eastern Maine Development Corporation provides SBA 7(a) financing with particularly strong presence in ME. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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