Mainebiz

W W W. M A I N E B I Z . B I Z 17 O C T O B E R 3 1 , 2 0 1 6 talking to the Finance Authority of Maine to help with loan guarantees. May says he and Budde have excellent insight into the workings of a farm and the risks of farm land, including droughts, pests, disease, non-productive seasons and other issues, and have partners that also can help, including MOFGA, MFT, CEI and the USDA. Maine Harvest plans to use Synergent, a Westbrook- based company that performs back-offi ce services for credit unions. Tapping growing markets Maine Harvest stands to tap two growing Maine markets: credit unions themselves and farming, especially the swelling ranks of young farmers. In terms of credit unions, by mid- year they had record asset, savings and membership numbers. e combined assets of Maine's 58 existing credit unions topped $7 billion for the fi rst time in the period from Jan. 1 through June 30 of this year to reach $7.04 billion, according to Maine Credit Union League numbers. Membership growth was among the fastest in the country, up 1.8% or 12,000 members to a record total of 679,405 members. As for farms, the 8,174 farms in Maine are up 13.6% in numbers from a decade ago, giving the state the highest number of farms among New England states, according to the USDA Agriculture Census (2007- 2012). Some 39% of that growth is from farmers age 34 or younger, which is far higher than the 1.5% across the United States. Agricultural sales also have risen 24% since 2007, with the farm-to-fork movement and desire for quality products from known sources stimulating demand. According to Maine Harvest, fi nancing is the largest obstacle for farmers to grow, with the state having an estimated $90 million in unmet demand for small farm mortgages. Other needs for money include $95 million in unmet demand for lines of credit, equipment loans and startup costs for new farms. L V , M a i n e b i z s e n i o r w r i t e r, c a n b e r e a c h e d a t @ . a n d @ L V The newly renovated Bangor International Airport is really something to see. From automated, self check-in kiosks to relaxing, comfortable places to wait. It's a brighter, more spacious passenger services area. All designed to make the first part of your trip easy and enjoyable. Visit flybangor.com or come see the real thing! Comfortable seats. More room. First-class service. All before take-off. BGR_ME_Biz_100616.indd 1 10/6/16 1:24 PM Since 1978, we've been providing 'em. Seven Locations in Maine / 207.989.4824 / ces-maine.com / Engineers w Environmental Scientists w Surveyors Sensible Solutions Since 1978, we've been providing 'em. Solutions Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and Community banks and credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have credit unions don't have the in-house expertise to assess the risk profile [of the farm land]. — Sam May, Maine Harvest Credit Project

• Cover