Maine

Maine's Small Business Low-Interest Loan Program provides loans of up to $35,000 at 1% interest* to small businesses to support approved energy efficiency measures. Efficiency Maine, a program of the Maine Public Utilities Commission (PUC), administers this program, with the assistance of the Finance Authority of Maine (FAME). Businesses with less than $5 million in annual sales or less than 50 full-time employees are generally eligible.  
 
To qualify, a business must undergo an energy audit to identify necessary improvements. The audit may be performed free of charge by PUC staff member or for a fee by a licensed energy auditor. After the audit is completed, the business may submit an application to the Maine State Energy Office (SEO) for a specific loan amount, based on the merits of the project. Following approval by the SEO, the application will be forwarded to FAME to determine the creditworthiness of the business. The applicant is responsible for up to $500 in loan closing costs.  
 
Loans terms vary depending on project, the loan amount, and client cash flow. Collateral is required to secure the loan. Note that schools, hospitals, and facilities with residential components, such as apartment buildings, condominiums, or private residences are not eligible for participation in this program.  
 
 
 
*Interest rates are subject to change.