Supporting a brighter, more sustainable future. One small business at a time.
Partnering with businesses like yours to steward our natural resources, shift to cleaner energy sources, increase sustainable business practices and create more climate-resilient businesses and jobs is key to our vision of a just, vibrant and environmentally sustainable future.
Whether you’re looking to install solar panels on your place of business, considering upgrading/electrifying equipment to be more efficient, or shifting your business model to be more climate-resilient, we are here to help you align your business with your environmental values.
We are solar financing experts, having financed over $22 million worth of solar loans in Maine and Northern New England – enough to power over 3,500 Maine homes!
CEI LOANS
Find the Right Loan for You
Have questions about a potential loan request? Complete our inquiry form!
Low-Cost Solar Loans
Does your small business want to go solar? As part of a pilot program, we are offering 3.25% interest loans for small businesses in Maine looking to go green and install solar panels on their business. We can also get you in touch with local solar installers for a quote.
Funds are limited and priority will be given to businesses that are BIPOC-, women-, or immigrant-owned. Loans may be capped in size due to demand.
Terms
Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.
Businesses eligible for the 3.25% rate are:
- Business is located in an CDFI Fund-designated Investment Area (see sidebar)
- Low-income borrower
- Business serves low-income people as the business model
- BIPOC, Woman, or Immigrant-owned
- Business is within the following sectors: Aquaculture/Fishery, Food/Ag, Green Enterprises*, Child Care
*To qualify as a green enterprise, the core mission of the business must be to provide an environmentally related good, product, or service.
Geography:
Maine
Sector:
Any
Uses:
Installation of solar panels and related upgrades (e.g. battery storage, electrical panels)
Amount:
Up to $200,000.
Interest Rate:
3.25% for those who meet eligibility requirements (see above). Market-rate loans are available for other business borrowers.
Typical Term:
5-7 years with extended amortization possible.
Other Features/Requirements:
CEI requires loan applications to be completed a minimum of 6 weeks before the REAP applications are due to give adequate time to produce the necessary documentation (only applicable to those applying for REAP).
Loan Process
Can’t swing solar right now, but are interested in the future? We are currently raising funds to expand the program. Sign up to be notified of future funding options.
Sign UpIs my Business in an Investment Area??
Investment Area Mapping ToolHave your business plan, financials, and other materials handy? Then you’re ready to apply!
Loan ApplicationIn addition to the application above, you must submit a credit acknowledgement for each guarantor listed on the loan application.
Credit AcknowledgementReview our application checklist to ensure you have all the materials you need.
Application Checklist
Clean Energy for Communities
We’ve financed solar installations for everything from art galleries to hockey rinks to schools and municipalities. We pride ourselves on finding the right financing option for your community facility or organization, and have experience with a wide range of financing models including debt, construction and bridge, project acquisition and Power Purchase Agreements (PPA).
Options include:
- Power Purchase Agreements (PPA) projects for towns and municipalities
- Community Solar installations
- Construction projects that include renewable energy installations
- Other clean energy installations including geothermal, heat pumps or EV chargers.
Terms
Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.
Geography:
Maine
Sector:
Any
Uses:
Installation of renewable energy and related upgrades (e.g. battery storage, electrical panels)
Amount:
$15,000 to $1 million.
Interest Rate:
6-8%
Typical Term:
5-7 years with extended amortization possible.
Other Features/Requirements:
Talk with your loan officer about other features and requirements.
Loan Process
Have your business plan, financials, and other materials handy? Then you’re ready to apply!
Loan ApplicationIn addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.
Credit AcknowledgementReview our application checklist to ensure you have all the materials you need.
Application Checklist
Sea Farm Loans
Financing for Maine’s Aquaculture Businesses
If you are seeking to grow your aquaculture operation but have had difficulty getting a loan from a commercial lender, CEI is here to help. We have over 45 years of experience working with marine trades, in and on the working waterfront, and are experts in aquaculture practices and financing.
Terms
Terms and closing costs may vary based on specifics of project and prevailing market rates. Typical time to approval is 4-6 weeks but can fluctuate based on number of requests.
Geography:
Maine’s coastal counties – York, Cumberland, Sagadahoc, Lincoln, Knox, Waldo, Hancock and Washington Counties
Sector:
Commercial aquaculture. To be eligible: – Borrower must have necessary licensing and leasing permits – Borrower must have documented $500 in sales to unrelated/non-family party – A complete business plan and minimum two years cash flow projection
Uses:
Restructuring of debt, purchasing boats, gear, and equipment, renovating or constructing infrastructure, acquiring land, and operating capital
Amount:
Up to $250,000 (higher amounts may be considered)
Interest Rate:
Fixed at 5%
Typical Term:
5-7 years with extended amortization possible.
Other Features / Requirements:
Flexible/seasonal repayment schedules may be available.
Loan Process
Have your business plan, financials, and other materials handy? Then you’re ready to apply!
Loan ApplicationIn addition to the application above, you must submit a credit acknowledgement (link below) for each guarantor listed on the loan application.
Credit AcknowledgementReview our application checklist to ensure you have all the materials you need.
Application Checklist
Meat & Poultry Processing Loans
Terms
The objective of the Meat and Poultry Intermediary Lending Program (MPILP) is to strengthen the capacity of independent meat processors, and to create a more resilient, diverse, and secure U.S. food supply chain. Loans for the start-up, expansion, or operation of slaughter or processing of meat and poultry.
To qualify for these loans a business must be engaged or propose to engage in USDA inspected meat and poultry processing. Custom exempt processing facilities do not qualify for this product, unless they have a demonstrated plan in place to become a USDA federally inspected facility.
Geography:
New England states (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) and New York
Sector:
Any species eligible for USDA inspection include cattle, sheep, swine, goats, catfish, and equine. Poultry species amenable to USDA inspection include chickens, turkeys, ducks, geese, guineas, ratites, and squabs (young pigeons).
Uses:
Predevelopment, real property and business acquisition, construction, working capital, machinery, and equipment.
Amount:
Up to $2.5 million
Interest Rate:
Fixed Rate of 6%
Typical Term:
Up to 10 years, with amortization over 20 years possible.
Other Features / Requirements:
NOTE: The following species are not eligible for voluntary federal inspection or this lending program: rabbit, antelope, bison, buffalo, catalo or cattalo, deer, elk, reindeer, water buffalo, yak; voluntary poultry, migratory waterfowl, and game birds.
Loan Process