About Southern Maine Finance Agency (SMFA)

The Southern Maine Finance Agency began as the Biddeford-Saco Area Economic Development Corporation, a non-profit partnership between the cities of Biddeford, Saco and the Biddeford Saco Chamber of Commerce and Industry in 1992.

Our mission is to promote sustainable economic prosperity though regional business lending, targeting underserved markets in Southern Maine. We work collaboratively with the communities, financial institutions and local, regional, state and federal organizations throughout York County to facilitate policies, projects and programs that will accommodate and capture new investments in Southern Maine.

The corporation is staffed by three employees and governed by a fifteen member board of directors. We have a ten member loan committee and a five member advisory panel. We are certified as a Community Development Financial Institution by the U.S. Department of the Treasury.

"SMFA urged us to think bigger than we were. We are really excited about the potential for our business and to be able to do what we love, right here in Maine."

Derek Bedford

Possum Hollow Farm Soaps

"I approached SMFA for a loan and they worked with me to find exactly the right combination of funding sources to provide my company with the money it needed, at the right rate, in a timely manner."

Mike St. Pierre

Hyperlite Mountain Gear