SBA 504 Loans in Maine
Browse 9 lenders offering sba 504 loans in Maine. Compare rates, requirements, and loan programs — then connect directly.
SBA 504 Lenders in Maine
9 lenders offering sba 504 loans to borrowers in Maine.
Live Oak Banking Company
WILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
The Huntington National Bank
COLUMBUS, OH
Major regional bank and consistently one of the top SBA lenders in the country by number of loans. Offers SBA 7(a) and 504 loans alongside conventional business lending, commercial real estate, and treasury management services.
Readycap Lending, LLC
BERKELEY HEIGHTS, NJ
Non-bank SBA preferred lender offering SBA 7(a) and 504 loans nationwide. Specializes in commercial real estate, business acquisition, and expansion financing for small businesses. Known for fast closings and flexible underwriting.
Byline Bank
CHICAGO, IL
Chicago-based bank and one of the top SBA 7(a) lenders in the Midwest. Provides SBA loans, commercial real estate financing, equipment loans, and government-guaranteed lending for small and mid-sized businesses.
Manufacturers and Traders Trust Company
BUFFALO, NY
M&T Bank is a major regional bank and one of the top SBA lenders by loan count in the Northeast. Offers SBA 7(a), Express, and 504 loans alongside a full range of commercial banking, commercial real estate, and small business products.
KeyBank National Association
CLEVELAND, OH
Major regional bank and SBA preferred lender with nationwide commercial banking operations. Offers SBA 7(a) and 504 loans, conventional business lending, commercial real estate, equipment finance, and capital markets services.
Granite State Economic Development Corporation
Portsmouth, NH
Portsmouth, New Hampshire-based nonprofit Certified Development Company providing SBA 504 loans since 1982. Serves small businesses across New Hampshire, Maine, Vermont, and Massachusetts.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
Southern Maine Finance Agency
Biddeford, ME
About SBA 504 Loans in Maine
SBA 504 loans provide long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment. The loan is split between a bank (50%), a Certified Development Company (40%), and your down payment (10%), resulting in below-market rates on the CDC portion. In Maine, 9 lenders currently offer SBA 504 financing with loan amounts from $125K to $17M and rates typically ranging from Below market (CDC portion ~5-6%).
Maine Market Overview
Maine's economy has diversified beyond traditional industries, with Portland emerging as a nationally recognized food, beverage, and creative economy hub. Healthcare and tourism remain dominant economic drivers.
Maine's Pine Tree Development Zone program offers tax credits to qualifying businesses in targeted industries, including reduced income tax rates and property tax reimbursement for up to 10 years. The state's short building season due to harsh winters increases construction timelines and costs, which affects new CRE development feasibility. Portland's waterfront and downtown have experienced significant commercial revitalization, though development is constrained by historic preservation requirements and a building height limit that maintains the city's character while restricting supply.
Who Should Consider SBA 504 Loans?
- Owner-occupied commercial real estate
- Heavy equipment purchase
- Business expansion
- New construction
Key Requirements
- For-profit business
- Net worth under $15M
- Average net income under $5M (after taxes) for prior 2 years
- 51%+ owner occupancy
- Create or retain jobs (1 per $90,000 CDC)
Pros and Cons
Advantages
- ✓Only 10% down payment
- ✓Below-market fixed rate on CDC portion
- ✓Long terms (20-25 years for RE)
- ✓No balloon payments
Considerations
- •Must be owner-occupied (51%+ for existing, 60%+ for new construction)
- •Cannot be used for working capital
- •Longer closing timeline
- •Two closings (bank + CDC)
SBA 504 Loans FAQ
What is a Certified Development Company (CDC)? ▼
Can I use SBA 504 for a rental property? ▼
How is the SBA 504 loan structured? ▼
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