$2M in new financing will help Saco manufacturer Tanbark add equipment, grow staff

March 10, 2024

(from Mainebiz) A Saco packaging manufacturer Tanbark Molded Fiber Products gears up for growth, the company has gotten a boost from the Finance Authority of Maine and the Maine Technology Institute: approvals of more than $2 million in financing.

Tanbark, which began operations last summer, designs and makes molded fiber packaging products, using wood pulp largely sourced from the Maine woods.

FAME approved nearly $1.6 million in total financing, comprising a $1 million FAME Direct Loan and a $594,000 loan through the Grow Maine program. ¬†Read more here…