Mainebiz

V O L . X X I N O. X I V 34 FA C T BO O K / D O I N G B U S I N E S S I N M A I N E B U S I N E S S R E S O U R C E S Use SIDES E-Response to answer wage and layoff information requests. • Decrease paperwork. • Streamline the unemployment process. • Reduce overpayments. • Minimize potential appeals. Help keep unemployment tax rates low and avoid penalties—quickly provide accurate information to the Department of Labor. Save Time and Money Bureau of Unemploy employ em ment Co nt Co nt mpensation The Maine Department of Labor provides equal opportunity in employment and programs. Auxiliary aids and services are available to individuals with disabilities upon request. Questions? Unemployment Employer Services 207-621-5120 www.maine.gov/labor/unemployment/ separation_request.html Respond online to unemployment requests for separation information. 866.736.2804 mainebls.com In Lending, People Make the Difference. EQUIPMENT | REAL ESTATE | BUSINESS ACQUISITION Lucas Morris Vice President Bangor and Northern Maine Joe Hackett Senior Vice President Central Maine Dave McElwain Vice President Southern Maine Two-tiered project fi nancing: A lender fi nances approximately 50% of the project cost and receives a fi rst lien on the project assets (but no SBA guaranty); A CDC (backed by a 100% SBA-guaranteed deben- ture) fi nances up to 40% of the proj- ect costs secured with a junior lien. e borrower provides the balance of the project costs. Fixed interest rate on SBA loan. e SBA guarantees the debenture 100%. All project-related costs can be fi nanced, including acquisition (land and building, land and con- struction of building, renovations, machinery and equipment) and soft costs, such as title insurance and appraisals. Some closing costs may be fi nanced. Collateral is typically a subordi- nate lien on the assets fi nanced; allows other assets to be free of liens and available to secure other needed fi nancing. Long-term real estate loans are up to 20-year term, heavy equip- ment 10- or 20-year term and are self-amortizing. Key business resources in Maine U.S. Small Business Administration Maine District Offi ce 68 Sewall St. Edmund S. Muskie Federal Bldg., Rm. 512 Augusta, ME 04330 207-622-8551 www.sba.gov/me Eastern Maine Development Corp. 40 Harlow St. Bangor, ME 04401-5102 207-942-6389 or 800-339-6389 Maine Only 207-942-3548 Fax www.emdc.org CEI 36 Water St./P.0. Box 268 Wiscasset, ME 04578-0268 207-882-7552 • 207-882-7308 Fax www.ceimaine.org Granite State Development Corp. Jim Maxwell 183 Newhall Rd. Wells, ME 04090 207-646-5988 www.granitestatedev.com Pine Tree State Certifi ed Development Corp. Field Rider 120 Exchange St., Ste. 205 Portland, ME 04101 207-773-3104 frider@megalink.net www.pinetreestatecdc.com Microloan program Entrepreneurs and small business owners interested in small amounts of business fi nancing (up to $50,000) should contact the nearest SBA district offi ce for information about the nearest Microloan Program Intermediary Lender or go to www.sba.gov/microloans e Microloan program provides very small loans (up to $50,000) to women, low-income, minority, veterans and other small business owners through a network of more than 100 inter- mediaries nationwide. Under this program, the SBA makes funds avail- able to nonprofi t intermediaries that, in turn, make the small loans directly to start-up and existing businesses. Entrepreneurs work directly with the Intermediaries to receive fi nancing, and business knowledge support. e proceeds of a microloan can be used for working capital, or the purchase of furniture, fi xtures, supplies, materi- als, and/or equipment. Microloans may not be used for the purchase of real estate. Interest rates are negoti- ated between the borrower and the Intermediary. e maximum term for a microloan is six years. Because funds are borrowed from the Intermediary,

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