SBA Maine Spring Recap and Summer News

Maine District Office  - July 10, 2018

u s small business administration

SBA Maine Celebrates Small Business During Small Business Week

Small Business Award Winners

April 30th-May 4th was Small Business Week, with a number of events put on by SBA to provide resources and recognition to small business owners and the impact they have on our local economy.

The awards reception for the Small Business Award winners was held on May 1st in Freeport, and featured the largest slate of awardees in recent years.

Winners of the 2018 awards were: 

Maine Small Business Persons of the Year
Beth Shissler and Don Oakes
Sea Bags, LLC of Portland

 Maine and New England Home Based Business of the Year
Bethany Weisberger
Gneiss Spice of Albany Township

Maine and New England Micro-Enterprise of the Year
David Jacobson
David Jacobson Glass, LLC of Montville

Maine Small Business Exporter of the Year
Rayland O’Neal and Sasha Long
Arcast, Inc. of Oxford

Maine Woman Owned Small Business of the Year
Heather Chandler
The SunriseGuide, LLC of Portland

Maine Young Entrepreneurs of the Year
Melissa Law, Benjamin Whalen, Abigail & Jeffrey Fisher
Bumbleroot Organic Farm, LLC of Windham

Maine Veteran Owned Business of the Year
Louis A. Waterhouse III
LAW Calibration, LLC of Saco

Maine Minority Owned Small Business of the Year
Benjamin Okafor
Eastport Family Pharmacy of Eastport

Maine Jeffrey Butland Family Owned Business of the Year
David Machesney
Pratt Abbott of Westbrook

Maine Small Business Manufacturer of the Year
Jennifer Scism and David Koorits
Good To-Go, LLC of Kittery

Maine Financial Services Champion of the Year
Sandra Stone
Chair Emerita, Maine Angels

Maine Small Business Development Center Excellence and Innovation Center Award
Joshua Nadeau
Maine SBDC at Northern Maine Development Commission

The nomination period for the 2019 awards will be open this fall, so stay tuned for more information.

Other News For This Summer

Loan Comparison June 2018 - June 2017

SBA Lending So Far This Fiscal Year

SBA greatly appreciates all of the lenders who participate in our programs to expand financing to the small business community.

The total number of loans has risen from 2017 thanks to some tremendous activity from our SBA Microlenders.  Our 7(a) loan guaranty and 504  loan volume have been pacing behind prior years.  The fiscal year is not over yet though, so we’re sure that small businesses and our partner banks and credit unions will be sure to use one of our loan guaranty programs where it makes sense.  

For our lenders: remember, you should never say no to a loan request without considering whether or not you can make that loan with an SBA guaranty.  

If you have questions about how the SBA loan process works, please feel free visit our website or call our office at 207-622-8551 for more information.

Casco Bay

Why Should You Start Your Business in Maine or Relocate Here? We're Glad You Asked...

Here in Maine there are several organizations to help as you start, relocate, or expand. In particular, Maine & Company is available to help you navigate the many benefits to doing business in our state. If you need a list of reasons that Maine is great:

  • The Opportunity Maine tax credit provides graduates living and working in Maine with a tax credit for their student loan payments, and is available to employers who offer student loan payment as a benefit
  • Maine has the lowest energy costs in New England, and has one of the highest rates of renewable energy usage in the country
  • Maine ranks in the top 10 states for K-12 education, with nearly a quarter of high schools receiving a gold or silver medal from US News and World Report
  • With many outdoor activities available year-round, Maine has one of the most active adult populations in the country
  • Maine ranks 5th in the country in craft breweries per capita for adults over 21, so after work drinks can stay local
  • Thrillest ranks Maine as the second best state to live in (we're coming for you Michigan)
  • Maine regularly ranks in the top 5 safest states in the country, with especially low rates of violent crime
  • WalletHub ranks Maine as one of the best states for women, with strong representation in state government and one of the lowest pay gaps in the country

Still not convinced? Maybe this video can change your mind.

Upcoming Events

Small Business Solutions - Federal Contracting

When: Wednesday, August 1, 4:00pm-6:00pm
Where: Falmouth Country Club, 1 Congressional Drive, Falmouth
Register: HERE

Are you an established small business interested in contracting with the Federal government? Are you looking for other revenue options? Fiscal Year 2017 saw Maine small businesses awarded over $125 million in Federal contracts. SBA’s Government Contracting programs level the playing field for small businesses when competing with large companies on government contracts and subcontracts. You are not "too small" to sell your product or service to the Federal Government. Find out how!

The Portland Regional Chamber of Commerce in conjunction with Falmouth Country Club and Infinity Federal Credit Union is proud to present this FREE workshop that will provide participants an opportunity to explore the U.S. Small Business Administration’s Federal certification programs --- the 8(a) Business Development Program, the Historically Underutilized Business Zone (HUBZone) Program, the Women-Owned Small Business (WOSB) Program, Veteran Owned, Service Disabled Veteran Owned, and Small Disadvantaged Business. Owners of established businesses will learn about the eligibility requirements and benefits of each program.

New Ventures/Startup Forum

When: Tuesday, August 21, 7:30am-1:00pm
Where: DoubleTree by Hilton, 363 Maine Mall Road, Portland
Register: HERE

Join Mainebiz Tuesday, August 21, for the Mainebiz New Ventures/Startup Forum designed to help and inspire entrepreneurs who want to startup, grow and be successful in business. Our goal is to provide insight and resources to the Maine startup and entrepreneur business community.

7:30am - 8:30am - Registration, Networking & Breakfast
8:30am - 9:30am - 10 Best Ideas For Startups and Entrepreneurs
10:00am - 11:00am - Workshop Sessions 1

  • Other People’s Money: A guide to fundraising, crowdsourcing, and finding equity capital to start or expand your business.
  • Partnerships, LLCs, and ESOPs: What is the best way to set up your company?
  • Mine. Mine. Mine. : How to protect your ideas with patents and trademarks.

11:00am - 12:00am - Workshop Sessions 2

  • You can’t do it yourself: Innovative ways to recruit and hiring rules to keep you out of trouble.
  • Show me the money: What investors and banks are looking for.
  • To market, to market: What you need to know about logistics, shipping, and exports.

12:00-1:00pm - Buffet Lunch & Keynote Address

2018 SBIR/STTR Road Tour

When: Friday, August 24, 7:00am-3:00pm
Where: Clarion Hotel, 1230 Congress Street, Portland
Register: HERE

The U.S. Small Business Administration announced recently it will launch an 18-state road tour connecting entrepreneurs with next generation Research & Development ideas to the largest source of early stage funding led by the SBA’s SBIR & STTR Programs.

Join us for one of the largest events of the year specializing in helping small businesses learn about the competitive Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The SBIR/STTR programs make $2.5B worth of awards annually to small, high tech firms to engage in Federal Research/Research and Development (R/R&D) work with potential for commercialization. Representatives from all 11 participating Federal agencies, as well as experts and trainers in the field will be present to help companies navigate funding opportunities and learn more about the program. 

Maine Technology Institute will also be holding a number of preparatory sessions in July. Find more information on these sessions HERE