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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 Concept Review Meeting Deadline: October 6, 2015

Next Development Loan Application Submission Deadline: October 20, 2015

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.

All Development Loan Applicants must have a Concept Review Meeting.

Please contact Joe Migliaccio at 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)


Loan Recipient Forms

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