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CEI commercial lenders are located in Wiscasset and Portland. You are welcome to call either office with any questions that you may have during the loan application process.
To apply for a loan, please submit the following: - The CEI Loan Application (can be downloaded from link below)
- A complete business plan, which includes all items outlined in the Application Checklist. CEI Business Development Services staff can help you with your business plan. Visit our Business Advice and Training section to find the counselor nearest you.
- Tax returns for the most recent three years for your business or the business you are purchasing, including the depreciation schedule.
- Personal tax returns for the applicant(s) and guarantor(s) of the most recent three years.
- A year-to-date Income Statement and a current Balance Sheet for your business or the business you are purchasing.
- A current personal financial statement for the borrower(s) and guarantor(s).
LOAN APPLICATIONS
General Loan Application
Commercial Fisheries Application
Shellfish Application
Working Waterfront Application
Child Care Application SBA 504 Application Once CEI receives the complete application package, the review process begins. You will be contacted by the loan officer who is reviewing your loan request, and, in most cases, the lender will want to meet with you prior to the loan decision to get to know you and to understand better your business. The decision process can take approximately 2-4 weeks depending on the complexity of the transaction.
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AM Wood Designs LLC - Finding the Right Help |
In Bingham, Maine, population 856, the forest products industry used to
be the major source of employment. But over the past two decades, the
community has seen jobs go oversees or vanish altogether. When Richard
Casey lost his job, he wanted to stay in Bingham, his home for
twenty-five years.
In 2000, when he began looking for funds to start his own unfinished
pine furniture company, CEI was there to help pull together a loan
package with local banks and other economic development agencies.Casey
converted a vacant mill into a manufacturing plant, purchased equipment
and began operating. Later, when AM Wood Designs began to struggle with
low margins and inefficient production, CEI's PACT project helped pay
for extensive training in lean manufacturing. The training helped Casey
realize he'd have to remake the company in order to survive.
The Maine Small Business Development Center at CEI helped
Casey plan for change and better his chances of finding an investor. It
took three years, some hard choices, and the efforts of many, but AM
Wood Designs is turning around. Casey found Anania and Associates which
made major investments in operations and marketing. They dropped
unprofitable lines, added higher margin products, and are doing more
with the same number of employees. Now AM Wood Designs boasts a line of
charming cedar gazebos.
"Without PACT and CEI, we wouldn't be here", says Casey. At
every turn, CEI was there with the right resources - capital, training
grants, and management assistance.
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