Development Loans of up to $500,000 are offered three times a year to support research and development of new and/or enhanced products, processes or services leading to commercialization. All projects must fall under one of Maine’s seven technology sectors and require matching investments of 1:1. Please reference this document for maximum pro-bono hourly rates allowed in MTI applications.
Development Loan Application Process
Next Development Loan Notice of Intent to Apply Deadline: February 2, 2016
Next Development Loan Application Submission Deadline: February 16, 2016
Step 1: Review the Development Loan Request for Application (PDF), required RFA Forms. We also recommend reading Tips for a Strong Application and this presentation provided by Maine Center for Entrepreneurial Development.
Step 2: Attend a workshop or webinar
Please click here for the Development Loan webinar PowerPoint presentation.
Step 3: Schedule a Concept Review Meeting with MTI staff.
A Concept Review Meeting with Joe Migliaccio or a member of the Business Ventures Team is HIGHLY RECOMMENDED prior to submitting a Notice of Intent to Apply.
Please contact Lou Simms at Lsimms@mainetechnology.org or call 207-588-1015 for additional information or to schedule a Concept Review meeting with the MTI Business Ventures Team. Applicants are requested to come to the concept review meeting with a straw business plan and their non-confidential technology project summary indicating how the technological innovation can grow their business.
Step 4: Submit a Notice of Intent by February 2, 2016
The Notice of Intent shall be accompanied by drafts of the following: Business plan, project summary, scope of work, and project budget.
Step 5: Prepare, proofread and submit application
Applications may be submitted online, mailed or hand-delivered to our Brunswick office. All applications must be received before 5pm on the deadline date.
To submit your application online, log into your account here.
On the right hand side, you will see "Submit Application Online" - once selected you will be redirected to a new page. Select "New Proposal", fill out the Proposal ID, Email, Name, Organization and select "Start Proposal". Add a single PDF document of the proposal and hit submit.
***MTI's email file size limit is 10mb. If your file approaches this limit, you may consider submitting it through the MTI website upload tool instead***
Loan Recipient Forms