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W W W. M A I N E B I Z . B I Z 15 A P R I L 1 , 2 0 1 9 F O C U S B A N K I N G / F I N A N C E ey share an interest in helping entrepreneurs achieve a level of sta- bility that's helpful from a couple of angles. For one, they help businesses grow in a sustainable way. "What we've found is that there are a lot of accidental entrepreneurs," says Birdsall. "ey love baking or say they love flowers. ey don't do it because they love profit-and-loss statements. ey don't necessarily need to be able to keep their books, but they do need to be able to ask the right questions of professional bookkeepers." e programs also mitigate the risks that bankers consider on a loan application. "We have a fiduciary responsibility to our depositors to make sure the loans we make are prudent," says Dan Walsh, executive vice president of commer- cial banking at Norway Savings Bank, a lead sponsor of Maine Center for Entrepreneurs' Top Gun and Cultivator programs. "at's not to say we won't take risks. However, when you have a startup that might not have been a business a year ago and they don't have a track record, that suggests they really need equity capital rather than debt." Startups typically depend on per- sonal capital, friends and family loans and even credit card debt. "en we steer them toward resources available in the community, like SCORE," Walsh says. "And we stay close with them. When they get to the point where they're bankable, then we can talk about working capital. It's very much an art, not a science." Gorham Savings Bank seeks to similarly help early businesses through its LaunchPad small business compe- tition and a second program within LaunchPad, the Emerging Idea Award, which comes with a $10,000 grant and $10,000 of in-kind business and marketing services. Since 1989 Local Decisions Be Budget! 800.924.4229 www.bdtme.com Problems Solved. Budget Document Technology is an industry leader in providing digital solutions for document creation, production, and distribution. Helping Maine get business done! • Multi-functional Color & B&W Copiers • Printers & Scanners • Postage & Mailing Equipment • Software & Network Solutions • Managed Print Services When a business is in distress a lifeline can take many forms. That's where Drummond Woodsum attorneys Jeremy Fischer, Ben Marcus, Peter Klein, Jeff Piampiano, Julia Pitney, David Sherman, and Timothy Steigelman can help. Our extensive bankruptcy, restructuring, and creditors' rights practice is ready, willing, and able to undertake efficient and immediate action in any distressed commercial situation. We pride ourselves on providing practical advice to our clients in northern New England and across the country from the first sign of distress through the most complex chapter 11 bankruptcy. We practice law differently. Since 1965. dwmlaw.com | 800.727.1941 C O N T I N U E D O N F O L L OW I N G PA G E » The competitions were incredibly helpful … I saw it as an opportunity to refine how we present our business to the world for future pitches, whether that's to a bank or investors or anyone else. — Eliah Thanhauser North Spore Mushroom Co.

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