not sure where to start? click here.

Development Loan

A component of the Business Innovation Program

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 Deadline: September 3, 2014

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 is required of all Development Loan Applicants. Please contact Jessica Watson at jwatson@mainetechnology.org to schedule your meeting. The meeting should be scheduled at least 3 weeks before the deadline date. Applicants are requested to come to the mandatory 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: Prepare, proofread and submit application

Applications may be submitted online, mailed or hand-delivered to our Brunswick office. Applications may not be submitted via email. 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.

 

Reviewer Forms

Technology Board Review Committee (TBRC) Score Sheet (Excel)
Technology Board Review Committee Guidance (PDF)
Peer Reviewer Guidelines (PDF)

 

Grant Recipient Forms

Reporting Requirements (PDF) 
Development Loan Agreement- Early Stage Company (PDF)
Development Loan Note- Established Corporations (PDF)

 

 

 

 

 

Featured Success Story:

Portugal isn’t what you might think of when you think about small businesses in Maine. But that’s where Chris Houle and Peter Murray found their largest client in the early days of starting Quantrix, a small desktop software company based in Southern Maine.

It opened their eyes to the potential of their product in international markets; six years later and now half of their clients are overseas. “We would never think of ourselves as having just a local market,” states Chris Houle, CEO of Quantrix. ...