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April 11, 2018 at 9:59 am · · Comments Off on Pine Tree State CDC

Pine Tree State CDC


Pine Tree State CDC, a not for profit Corporation established and certified in the State of Maine, provides Long Term Fixed Rate financing for Owner Occupied Real Estate and for Machinery and Equipment. Pine Tree State is a private, not-for-profit Certified Development Company (CDC) which has been established to administer the SBA 504 Loan Program throughout Maine. The company’s President, Field Rider of New Gloucester, Maine, and the company’s Membership and Board of Directors represent all of Maine. The company is chartered to do business in the entire State and does not limit its geographic footprint to any region in the State.

The SBA 504 Loan Program enables businesses to finance the acquisition of Real Estate and Machinery and Equipment using long-term subordinated debt at below market, fixed rates. Virtually all for-profit businesses in Maine qualify for this powerful program to finance the purchase or refinancing of land and buildings, new construction, renovations and leasehold improvements, and the acquisition of Machinery and Equipment. With an SBA 504 Loan, a borrower obtains a first mortgage loan for 50% of the project from a financial institution. We work with banks and lending institutions of all types that do business within the State of Maine. Pine Tree State then provides a second mortgage for 40% which is funded by the SBA. This 90% financing means the borrower must provide only 10% equity for the project, reducing demands on company cash and preserving working capital. The term of the 40% SBA 504 loan is 20 years for Real Estate, and 10 years for Machinery and Equipment. The 40% SBA portion, up to $5.5 million, provides low interest rates fixed for 20 years for Real Estate and for 10 years for Machinery and Equipment. Pine Tree State CDC’s loan approval process is fast and efficient. Pine Tree State will organize your application and complete the banks’ and borrowers’ limited paperwork required of the program. Pine Tree State will provide the financing and process, close and service your loan.

For more information on this and other financing programs, call Field Rider at 773-3104 or email him at frider@megalink.net.


Field Rider