Mainebiz

V O L . X X I X N O. V § 2 M A R C H 6 , 2 0 2 3 28 S TA R T U P S F O C U S Brunswick-based MTI offers grants, loans, equity investments, and services to Maine's innovation economy. "ey are still a great source of funding," Lomen says. "ey've been the most supportive of what we've done from the get-go." Maine Cap 'N Stem also received funding from CEI, (Coastal Enterprises, Inc.), a community development financial institution. But because product sales were so strong, the company didn't need equity funds. "It was ver y self-propelling," Lomen said. "There was enough money to support the business." Need for space Maine Cap N' Stem is still growing. It is still housed in a 24,000-square-foot facil- ity in Gardiner, but Maine Cap N' Stem is planning to expand to a 75,000-square- foot space in Lewiston in about a year. e Gardiner property will be used for storage and production overflow; the rent is too reasonable to give up, Lomen says. e Lewiston property the com- pany purchased is now undergoing a retrofit, with some equipment and furnishings still in the supply chain. It's been about eight years since the foray into what would become Maine Cap N' Stem was founded. Still, when Lomen is asked about how the business got its start,there's still a trace of disbelief "It's a weird wave and we seem to be riding it," he says. Ann Fisher, Mainebiz digital editor, can be reached at afisher @ mainebiz.biz BUSINESS ADVICE FINANCING POLICY ADVOCACY From 'just an idea' to grand openings and beyond, CEI is here to support your small business dream at every stage. www.ceimaine.org » C O N T I N U E D F RO M P R E V I O U S PA G E P H O T O / C O U R T E S Y O F M A I N E C A P N ' S T E M M U S H RO O M C O. Maine Cap 'N Stem Mushroom Co. will expand into a 75,600-square- foot building at 21 Fireslate Place in Lewiston.

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