Small Business is Good Business in Maine

Recently the U.S. Small Business Administration announced that SBA loans in Maine grew by 22% from fiscal year 2014 to fiscal year 2015.  The total dollar amount of loans also increased from $103.3 million to $109.6 million.  The financial website NerdWallet just listed Maine at the 11th most entrepreneurial state in the country.

In Maine there are:

  • 142,186 Small Businesses
  • 32,069 Small Businesses with Employees
  • 110,117 Small Businesses without Employees (Nonemployers)
  • 278,957 Workers Employed by Small Businesses

Atlantic began providing small business loans in 2005. Credit Unions are committed to the communities they serve.  Whether it is working capital, equipment financing, or help with expansion, assisting small business thrive is yet another way we can help.

Atlantic Regional Federal Credit Union Senior Vice President for Commercial Lending Rick Koch says, “A lot people still don’t realize that not only can Atlantic help with personal checking, savings and personal loans like mortgages, we also have the ability to work with small businesses.  Through our relationship with Business Lending Solutions, a Credit Union Service Organization, we offer loans of various sizes and types up to $10 million to businesses in our market area.”

Commercial Mortgages, Construction Loans, and Small Business Loans, Atlantic has the resources needed by many businesses.

Atlantic offer a variety of business credit cards to meet your needs. This allows you to separate your business and personal expenses while you receive:

  • Free 24/7 online access for managing your account. Your Authorized Company Representative can view transaction activity and history, pay your bill, set up your alerts and more.
  • Free management reports to help you track expenses, monitor your spending, spot tax deductions, prepare your tax filings and forecast expenses more easily.
  • Cash flow management with the flexibility to cover the cost of supplies, equipment, travel and more.

According to Seth Goodall, New England Regional Administrator, U.S. Small Business Administration, two out of every three new private sector jobs are created by small businesses.

Need a business loan?  Atlantic is always ready to help small businesses in Maine.

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