Mainebiz Special Editions

V O L . X X X I I N O. X I X 40 Fact Book / Doing Business in Maine B U S I N E S S R E S O U R C E S BANGOR 84 Harlow St. (207) 947.4501 ELLSWORTH 140 High St. (207) 374.5833 At Rudman Winchell, we're proud to call Maine home—and even prouder to build careers that are challenging, meaningful, and rooted in community. With offices in Bangor and Ellsworth, our team supports individuals, businesses, and municipalities across the state through collaborative, high-quality legal work. We value balance, professional growth, and a workplace culture that's both welcoming and committed to excellence. Whether you're starting out or looking for your next chapter, there's a place for you here. Build a legal career rooted in purpose, place, and people. C O U N S E L O R S A T L A W Where you Where you LIVE LIVE matters, where you matters, where you WORK WORK should too. should too. R U D M A N W I N C H E L L . C O M T he U.S. Small Business Administration's 504 loan program is designed to provide small businesses with financing for long-term fixed assets and refinancing of eligible business debt. By using this program, small businesses can access up to $5.5 million from a Certified Development Company, and an amount equal to or greater from a third-party lender with a 10-, 20- or 25-year term. Here in Maine, 55 small businesses utilized this lending program in fiscal-year 2025, unlocking more than $100 million in total financing. ese funds meant businesses in Maine were able to buy commercial property, conduct the renovations they needed, purchase machinery and refinance eligible business debt to further invest in their busi- nesses and employees. Volk Packaging's story Among these businesses was Volk Packaging in Biddeford, a manufacturer of corrugated cardboard and other packaging materials that has operated in Maine for nearly 60 years and employs over 100 Mainers. Originally opened by Benjamin and Kenneth Volk in 1967, the business has enjoyed steady growth and expansion of its facilities over the years. By successfully managing the challenges of a changing market, Volk Packaging has remained family-owned under current CEO Derek Volk, the third generation to lead the company. Under his leadership, a new fulfillment center and con- tract packaging facility was opened in Sanford to diversify revenue, and a new solar power system was installed on the Biddeford prop- erty to reduce energy costs. Last year, Volk met with his loan officer at Bangor Savings Bank to look at financing options that would put Volk Packaging in a stronger position and increase investment in the business. After these discussions, the SBA 504 loan program was determined to be the best option available to refinance existing, 504-eli- gible business debt and free up additional capital. With the help of Bangor Savings Bank and Granite State Development Corp., Volk was able to secure a $2.5 million SBA 504 Refinancing loan, one of the largest in Maine in 2025. ese funds will provide Volk with more flexibility to invest in new products and processes, continue to provide competitive pricing for customers, and plan for the future. With SBA loan, Biddeford packaging company accelerates growth B y S B A S t a f f More information about the different SBA loan programs can be found at sba.gov/funding-programs/loans or by contacting the SBA Maine District Office at 207-622-8551. Derek Volk P H O T O / T I M G R E E N WAY Boxes are stacked after moving through an Apstar Rotary Die-Cutter at Volk Packaging in Biddeford.

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