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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.
